Union Minister exhorts pvt sector to explore gold in K'taka

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Bangalore, Feb 25 (UNI) Stating Karnataka was blessed with 80 per cent of country's gold ore deposits, Minister of State for Mining T Subbarami Reddy today exhorted the private sector to come forward to explore the resource for the economic well-being of the State and the nation.

Speaking at the felicitation ceremony for Arathi Krishna, Community Development Officer, Indian Embassy in United States, here, he said India imported over Rs 1.45 lakh crore worth gold annually despite being blessed with rich gold-ore deposits in the country.

Stating rich deposits of gold ore was found in different parts of Karantaka, the Minister informed that several multinationals from abroad had shown inclination for exploration.

''In the coming days, Karnataka will become one of the richest states in the country if earnest efforts are made to exploit gold,'' the Minister said.

Mr Reddy also informed that Karnataka had the potential to become country's hub of gold, diamond and stone export industry.

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