In the past, some researchers have found traces of Gold mines in the borders of Chittoor and Ananthapur districts. Some companies have come forward in mining here. They have sent their proposals to the government and they are likely to sign MOUs at the ongoing Partnership Summit in Vishakapatnam.
Experts estimate a dump of 35 tonnes available in these regions. Earlier in 2001, Bharat Gold Mines Limited tried mining but stopped it since the digging costs were then more than the gold costs. Then one tonne crude metal used to yield 4-15 grams of gold.
But with the gold prices soaring high, experts estimate it to be beneficial even if one tonne crude metal yields only 1 gram gold. According to studies, gold availability is up to a minimum of 1.32 grams to a maximum of more than 10 grams per one tonne of crude metal now.