dont forget the diamonds, page-3

India sitting on a gold mine, literally!

3/14/2008 10:16:20 AM


Geologist surveys revealed that there are unexplored territories of gold and diamond mines
Historically Indians have had a fascination for gold and diamond jewellery. For centuries gold and diamonds have been regarded as the safest investment. TIMES NOW learnt that surveyors have confirmed that there is a huge existence of gold and diamond deposits in vast unexplored territories on the country.

For a while, the Kohinoor bedazzled India, but though Indians are regarded as the largest buyers of jewellery in the world, the country itself was deficit in gold and diamond desposits. However, that is about to change because believe it or not, India is just not sitting on several gold mines but many diamond mines as well.

According to information available with TIMES NOW, the Indian government struck gold after a survey by geological experts threw up astonishing figures. Information of acres of unexplored territories hiding precious metal was revealed to the government. According to government sources, many exploration firms showed that gold was found in about 80 places including in Rajasthan and Karnataka. In detail, gold was found in Banswara in Rajasthan and Mysore in Karnataka.

Diamond ores were found in Madhya Pradesh and Chattisgarh. Statistics which if true, could perhaps metaphorically result in proverbial gold rush akin to the type witnessed in the 19th century in the United States, with big MNCs like Debeers and Rio Tinto looked to cash in. The government however have done its bit to facilitate the gold rush by relaxing laws as far as the mining lease is concerned.

http://www.timesnow.tv/Newsdtls.aspx?NewsID=6475