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
Indian Natural Diamond Industry’s Revenues Projected To Stabilize: CRISIL Ratings
Natural Diamonds Retain Their Appeal In Premium Segments, Where Branding, Rarity and Emotional Value Remain Key Purchase Drivers
A report by CRISIL Ratings shows that India’s natural diamond industry is expected to hold steady at $15 billion in revenue this year rather than making a major recovery.
Strong domestic sales: Indian shoppers are buying more diamond jewellery locally, helping offset falling exports to key markets like the US and China. Domestic sales now make up nearly 25% of overall industry revenue (up from less than 15% in 2024).
Impact of Lab-Grown Diamonds (LGDs): Lab-grown diamonds have become very popular for smaller, budget-friendly pieces (especially in the US), taking market share away from smaller natural diamonds.
Natural diamonds stay premium: Large, rare natural diamonds (over 4 carats) continue to rise in price and retain their status as luxury items.
China remains another area of concern. Weak consumer sentiment and a sustained preference for gold continue to limit discretionary spending on diamond jewellery.
Even so, natural diamonds retain their appeal in premium segments, where branding, rarity and emotional value remain key purchase drivers.
The bottom line: Polishing companies are exercising strict inventory control to keep their finances stable while waiting for global demand to recover.
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