Business Daily from THE HINDU group of publications
Thursday, Oct 11, 2007
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Business Daily from THE HINDU group of publications Thursday, Oct 11, 2007 ePaper |
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Sick Units Agri-Biz & Commodities - Gold & Silver Bharat Gold Mines to be revived Our Bureau Bangalore, Oct. 10 The talk of reviving the famed Kolar gold mines is still on, six years after the defunct mines were ordered closed. At Tuesday’s inauguration of BEML’s rail coach unit at Kolar Gold Fields, nearly 100 km from here, two Union Ministers of State spoke of a central plan to revive Bharat Gold Mines Ltd, the defunct central PSU, with the help of international partners. Mr K.H. Muniyappa, MoS for Road Transport & Highways — who is the area MP — and Mr Rao Inderjit Singh, MoS for Defence Production, said a consultant was evaluating BGML’s assets. The land price would determine the 10-year lease of part of the land to BEML. Post-evaluation, global tenders would be called in about three months to find a bidder to keep the venture going; an alternative was to find a partner for an employee initiative to revive the mines. Mr Muniyappa said the 80-km belt had quality gold ore sufficient to keep the mines going for many years. BEML — which was born on BGML land some 40 years ago — said as a payback gesture, it has employed a first batch of 50 local persons at its units. More Stories on : Sick Units | Gold & Silver | PSU
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