National News
Major Gold Reserves Unearthed in Odisha: A Game-Changer for India’s Mining Industry
Odisha’s Gold Discovery Sparks Optimism for Growth in the Mining Sector, with Plans for Large-Scale Auction Underway
Odisha has emerged as a promising new hub for gold mining, following the discovery of vast gold reserves across several districts. Bibhuti Jena, the state’s Mines Minister, confirmed the exciting find and announced ongoing exploration efforts. The state is set to hold a large-scale auction of gold mining blocks in the near future to capitalize on this newfound potential.
Key districts such as Sundargarh, Nabarangpur, Keonjhar, and Deogarh have been identified as hotspots for the gold reserves. Exploration is also expanding to regions like Malkangiri, Sambalpur, and Boudh, with more discoveries anticipated. In Mayurbhanj, areas like Jashipur, Suriaguda, Ruaansi, Idelkucha, Maredihi, Suleipat, and Badampahad are under investigation for their mineral potential.
One of the most notable discoveries has been in Deogarh district, specifically in Adasa-Rampalli, an area where gold traces had been found earlier. The Geological Survey of India (GSI) is actively conducting G-2 level exploration in this region, revealing the possibility of multiple mineral resources, including copper.
Keonjhar district is also a key focus for gold exploration, with surveys being carried out in areas like Gopur-Gazipur, Mankadchuan, Saleikana, and Dimirimunda. These efforts form part of Odisha’s larger strategy to develop its mining industry and fully utilize its untapped mineral wealth. The state government is closely involved, and the upcoming auction of gold mining blocks in Deogarh is seen as a major step forward.
The exploration is being carefully monitored by state authorities, the GSI, and the Odisha Mining Corporation, with technical committees set to review the final exploration reports to assess the viability of commercial mining. Early findings suggest promising potential, and final results are expected by the end of 2025.
This discovery further solidifies Odisha’s reputation as a mineral-rich state, while positioning India as a key player on the global mining stage. If the reserves prove commercially viable, the gold deposits could provide a significant economic boost, drawing both domestic and international investments into the country’s mining sector.
National News
IBJA’s Appeal Regarding The PM Statement On Gold Purchases
Association Advises Jewellers To Continue Business Operations Normally While Encouraging Responsible Gold Buying and Recycling Practices
In the wake of Prime Minister Narendra Modi’s call for austerity and mindful spending, the India Bullion and Jewellers Association (IBJA) has urged jewellers and consumers to remain calm, avoid panic-driven reactions, and continue business operations responsibly. While acknowledging the Prime Minister’s emphasis on avoiding non-essential gold purchases amid prevailing economic uncertainties, IBJA emphasized that gold remains a culturally significant and trusted financial asset for Indian households. The association has advised jewellers to encourage informed and need-based buying, while also promoting recycling of old gold and transparent trade practices to ensure stability, consumer confidence, and the continued strength of the domestic bullion and jewellery sector. The statement was issued by.Anurag Rastogi-North India Head-IBJA
1. IBJA’s Message to Jewellers:
The Prime Minister has nowhere said that shops should be closed or that jewellers should stop selling gold to customers.
He has only stated that the country is currently going through a difficult phase, and if possible, people should reduce the use of gold for one year.
This does not mean purchases should stop completely. Customers should buy only as per necessity. Purchase only the minimum required or make use of old gold at home by recycling or repolishing it.
IBJA has appealed to jewellers not to panic. Solutions for business continuity will emerge. The government may have a larger roadmap in place, which could take some time to become clear.
The association is seriously reviewing the matter and discussions are ongoing with several agencies. Whatever decisions are taken will soon be communicated to jewellers and the media.
Until then, IBJA does not support any agitation, aggressive protest, shutdown, or opposition to the government. Traders have always stood with the government and will continue to do so.
Everyone is requested to continue operating their business normally, as before.
2. Appeal to Customers:
Customers are requested to take the Prime Minister’s remarks seriously.
If there is a need for 100 grams of gold, people should try to purchase only the minimum quantity required.
India imports gold from abroad, which leads to expenditure of foreign exchange.
It would be better to recycle old gold lying at home and convert it into new jewellery.
3. The Road Ahead:
IBJA will soon hold discussions with the government on this matter. If sales slow down significantly, it could impact GST collections, income tax revenues, bank CC/OD facilities, and the livelihoods of nearly 1 crore people connected to the industry. The issue of employee salaries will also arise.
All these points will be discussed, and the process may take time. Until then, everyone is requested to continue business operations seriously and normally, and avoid creating any atmosphere that could worsen the situation.
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