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About 3,539 thousand tonnes of gold ore having 17,738 kg of gold content have been proved during the recent surveys conducted by the Geological Survey of India for locating new lodes. The main gold mine at Kolar is one of the deepest mines of the world and the production from this mine is decreasing day by day due to heavy cost of extraction. .

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Kolar Gold Fields was one of the major Gold mining centres in India and is located in the Kolar district in Karnataka, close to the city of Bengaluru. The mine is considered the world''s second deepest gold mine. The Kolar Gold Mines were taken up for systematic exploitation by John Taylor and Sons in 1880.

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India will complete the second phase of its mining auctions later this month, after the first round last year received a lukewarm response.

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