The Hindu Business Line : Hutti Mines hopeful of improving gold recovery

Chennai, July 21 Hutti Gold Mines Co Ltd is hopeful of improving gold recovery in the months to come. The company, which is currently exploring an overall 625 acres in various blocks, produces three tonne of gold a year.

According to Mr Rakesh Singh, Managing Director of the company, the current gold recovery rate averages at 5 grams. (On an average, five grams of gold from a tonne of ore mined and processed). “But, we have reefs which are mapped to have more gold deposits. Since only now we have the necessary technology and financial viability to explore those reefs, we hope to explore those areas in the next five to six months, and this will hopefully improve the recovery rate to at least 7 grams,” he said.

However, Mr Singh said the company is comfortable with the current recovery rate as it spends only Rs 600 to mine and process a tonne of ore. “At the present market rate, even if we recover 1 gram a tonne, we will be almost 100 per cent profitable,” he said.

Hutti Gold Mines, a Government of Karnataka Enterprise, is the only producer of primary gold in the country. The country’s primary gold requirement at present is estimated at 800 tonne a year.

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