Parliamentary Panel Urges Faster Monetization of BGML Gold Tailings in Kolar Gold Fields
33 Million Tonnes of Gold-Rich Tailings Identified for Monetization
New Delhi, March 17: A parliamentary committee has called on the Ministry of Mines to accelerate the monetization of approximately 33 million tonnes of gold-rich tailings dumps at Bharat Gold Mines Ltd (BGML) in Karnataka’s Kolar Gold Fields (KGF).According to the latest report by the Standing Committee on Coal, Mines and Steel, these tailings contain recoverable quantities of gold and other precious metals, presenting a potential opportunity for resource utilization.
Environmental Risks and Resource Potential Highlighted
Gold mine tailings dumps are large storage facilities comprising crushed rock, water, and residual processing chemicals left after gold extraction. These sites are known to pose environmental risks, making their management and potential monetization significant from both ecological and economic perspectives.The committee emphasized the need for expediting the monetization process and has sought updates from the ministry on the latest developments in this regard.
BGML Status and Budget Allocation
BGML, a public sector undertaking under the Ministry of Mines, has remained closed since 2001 after its operations turned economically unviable. For the financial year 2026 to 2027, a budget allocation of Rs 8.75 crore has been earmarked for its maintenance.Background: Closure and Pending Asset Disposal
Incorporated in April 1972, BGML operated primarily in KGF, along with smaller mining operations in Andhra Pradesh. Following its closure, the Union Cabinet in 2006 approved a plan to dispose of BGML’s assets through a global tender, with the first right of refusal granted to the ex-employees’ society.However, this decision was not implemented. The Ministry of Mines has now indicated that the government is exploring future options and viable alternatives regarding BGML and its assets.
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