Research Projects

India is the second-highest gold consumer globally, with one-fourth of global mine production of 3,200 tonnes. However, due to a meager domestic mine supply, India's annual demand of 800 tonnes is met through imports, negatively impacting its Current Account Deficit (CAD). The government of India has targeted reduction in gold imports by increasing import duty instead of enhancing indigenous production by establishing new gold mines. As of 2015, India's total resources/reserves of gold ore were 501.83 million tonnes, with a total metal content of 654.74 tonnes. Between 2015-18, the Geological Survey of India (GSI) added 4.8 million tonnes of gold ore to the NMI. There is abundant scope for new discoveries in India, with an OGP (Obvious Geological Potential) area of 143,569 km2. The Ministry of Mines, Government of India, and states should prioritize exploration and mining of gold. Primary gold production in India comes from Karnataka state's Hutti Gold Mines Co. Ltd., which produces nearly 1.8 tonnes of gold per annum. Due to deep mining, geo-thermal gradient, economics, and administrative problems, M/s. BGML closed its operations in March 2001. To address the demand vs supply of gold in India, the government needs to use Artificial Intelligence and Machine Learning in mineral exploration. In the global scenario, developed countries have already successfully used AI and ML in mineral exploration.