K.G.F or kolar gold fields is a town in Bangarpet Taluk, in the Kolar District of Karnataka state, India. It includes the township of the same name, viz. KGF, where reside mainly the families of the employees of BGML. To the east of KGF is a ridge of hills of which Dod Betta hill, 3195 feet above sea level, is the most conspicuous point. KGF is about 30 kilometers from Kolar and 100 kilometers from Bangalore.
The gold mines of KGF were closed down by BGML in 2001 due to reducing deposits and increasing costs. Since then a bitter struggle is being waged by the ex-employees of BGML against the Ministry of Mines both inside the courts and outside to revive the mines. In September 2003 the Karnataka High Court directed the government to hand over the mines to the employees and in December 2006, the Ministry undertook in court to do so at a market determined price. In July, 2010 after protracted litigation, the High Court of Karnataka finalized the terms and procedure of transfer, but the government has not yet acted upon them. It appears now that the government may well recant from its earlier position and so the future of the Kolar gold mines is uncertain.
According to experts, the resources now remaining under the ground are only about 3 million tonnes of gold ore of low to very low quality i.e., fewer than 4 g/t.. If re-opened, the mine may provide a yield of about 12 tonnes of gold or about 1 tonne a year for 12 years, but the capital investment required will be quite heavy.
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Famous quotes containing the words gold and/or fields:
“An orchard, good tillage, good grounds, seem a fixture, like a gold mine, or a river, to a citizen; but to a large farmer, not much more fixed than the state of the crop.”
—Ralph Waldo Emerson (1803–1882)
“As the fields fear drought in autumn, so people fear poverty in old age.”
—Chinese proverb.