Odisha to Auction Gold Mines with 1,586 kg Reserves, Says Mines Minister
State plans time-bound auction of gold blocks as part of wider mineral monetisation strategy
Bhubaneswar: The Odisha government has confirmed that three gold mine blocks discovered in the state contain an estimated 1,586 kilograms of gold and that the process to auction these mines is already underway. Mines Minister Bibhuti Bhushan Jena shared the update on Thursday, highlighting the state’s push to unlock the economic value of its mineral wealth.
The move is expected to boost state revenue, attract private investment, and strengthen Odisha’s mining-driven economy.
Auction Process Begins for Odisha Gold Mines
Addressing the issue, the Mines Minister said that preparations for the auction of the identified gold mine blocks have already started. To ensure transparency and timely execution, a high-level review meeting has been scheduled for January 3.
The meeting will focus on reviewing the auction framework, compliance requirements, and timelines so that the process moves forward without delays.
Officials believe that a structured and predictable auction process will increase investor confidence and lead to competitive bidding.
GSI Identifies Gold Deposits Across Multiple Locations
The Geological Survey of India (GSI) has identified gold deposits at several locations across Odisha, expanding the state’s potential as a gold-producing region. Based on these findings, the state government has decided to bring all identified gold-bearing blocks under auction by 2026.
This long-term plan aims to systematically develop gold mining while ensuring regulatory compliance and environmental safeguards.
Annual Auction Calendar to Cover 49 Mineral Blocks
The January 3 review meeting will also play a key role in finalising Odisha’s annual mineral auction calendar. According to the minister, the calendar is expected to include 49 mineral blocks covering major, minor, and strategic minerals.
The review will assess:
- Suitability of the proposed mine blocks
- Status of geological exploration
- Readiness of blocks for auction
- Infrastructure and statutory clearances
This approach is intended to avoid auction delays and cancellations caused by incomplete data or regulatory hurdles.
Gold Blocks in Mayurbhanj and Deogarh Under Consideration
Proposed gold mine blocks in Mayurbhanj and Deogarh districts are also likely to be discussed during the upcoming meeting. These districts have shown promising geological indicators and could play a key role in Odisha’s future gold mining roadmap.
If cleared, these blocks would further expand the state’s gold resource base and create new opportunities for investment and employment.
Boost to Revenue, Investment, and Mining Economy
The Odisha government expects that the transparent and time-bound auction of gold and other mineral resources will significantly increase state revenue. It will also encourage responsible private sector participation and promote downstream industries linked to mining.
Officials said the strategy aligns with the state’s broader goal of sustainable mineral development, value addition, and economic growth.
Odisha Strengthens Mineral Monetisation Strategy
With iron ore, bauxite, chromite, and now gold resources, Odisha remains one of India’s most mineral-rich states. The planned gold mine auctions reflect the government’s commitment to efficient resource management and long-term economic planning.
By 2026, the state aims to bring all identified gold deposits under a formal auction process, marking a major step in strengthening Odisha’s position in India’s mining sector.
