Is it a Fake News that Sonbhadra Contain Gold Reserves?

On February 22, 2020, gold reserves worth 3,000 Tonnes were reportedly found in Sonbhadra district, Uttar Pradesh.

The gold reserves were valued to be 12 Lakh crore.

It was also stated that these reserves are almost five times India's present gold reserves.

Is this a fake news?

In another report, the Geological Survey of India (GSI) has rejected the news of 3,000 tonnes of gold in UP's Sonbhadra district and said the reserves were only 160 kg.

GSI mining officer further said that on the Son Pahadi and Hardi areas of the district there are gold deposits worth 2,943.26 tonnes while Hardi block had 646.16 kilogram.

GSI Director General (DG) M Sridhar said "The mineralized zone having an average grade of 3.03 grams per tonne of gold is tentative in nature and the total gold which can be extracted from the total resource of 52,806.25 tonnes of ore is approximately 160 kg and not 3,350 tonnes as mentioned in the media."

Conclusion

We can now understand that the existence of gold reserves is partly factual and follow up on the reports is also further necessary.

However, the current gold reserves in India are - 10th largest in the world with 618.2 tonnes, which is 6.9 per cent of the share in the total foreign reserves.

U.S. has largest holding with 8133.5 tonnes, followed by Germany with 3,366 tonnes and the International Monetary Fund (IMF) with 2,814 tonnes.

Other countries:

Italy - 2451.8 tonnes

Russia - 2241.9 tonnes

Switzerland - 1040 tonnes

China - 1948.3 tonnes

Japan - 765.2 tonnes

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