Hyderabad, April 20: The soil of Andhra Pradesh state which is rich in natural resources will soon spew out gold. The contact of mining lease will be granted to Karnataka based company.
Andhra Pradesh, which is not much known for having any precious metal, might host the first major gold mine in the private sector in the country, if the state government acts fast on granting mining lease to Geo Mysore India Private Limited.
The Bangalore-based exploration and mining company has applied for mining lease for gold in 6 square km area in Jonnagiri area near Anantapur district. It had already secured all the approvals from the Centre in 2008.
Mining is being done in Kolar area of Karnataka for years. This is the first time that Andhra Pradesh will become the second state to mine gold.
Though some foreign and Indian companies had started exploration of gold and other precious and semi-precious minerals in AP way back in 200 this could be the first instance where a company is actively pursuing a mining lease in the state.
Siasat news