Permission for mineral exploration: Development around Hutti

Prajavani, 21 June 2003 :

Raichur June 21: If Indophil is established in the region local villagers will get employment. The company has also planned to take up several development activities around Hutti village, said the company Managing Director Sandeep Lakhwara.

Speaking to media persons here he said that the Karnataka Government has given the permission to the company to take up exploration work in the 500 square kilometer area in the northern side of the Hutti Gold mines. After that the company has taken up the exploration work, but so far so it has not found any minerals, Sandeep said.

To start mining work the company needs atleast Rs 25 to Rs 30 crore, and there is no guarantee that the mining would be feasible. But Indophil is hopeful of making it a success with the help of expert Geologists.

Establishment of the Indophil company will create job opportunities and people in the area will be economically and socially empowered. Our company will take up the exploration and mining in the environment friendly way and it will also plant Macadamia trees in the area, he said. It also has plans to take up drinking water, under ground sewerage works and construction of roads in in the Hutti village, Sandeep said.

Indophil Company wants to work with the Hutti Gold Mines. If the two companies work together there is no doubt about the development of the surrounding areas, he opined.
Indophil Company is totally Indian company and Indians can purchase its shares. The money collected from its shares will be utilized for the development of mining activities, he said.

In 1994 the Government of India has decided to give mining of gold and diamond to private companies. The company has taken permission for exploration in Andhra Pradesh, Chattisgarh, Madhya Pradesh and Uttar Pradesh.

Instead of spending the public money the government of India is utilizing that amount for other development works and the private companies have taken up the mining and have also given employment opportunities to locals, he said.

Public should welcome the Government’s decision to give mining work to private companies instead of giving scope to the baseless romours against the government decision, he added.

Company Director V N Vasudev and Manoj Kumar of Adfactor were present at the press conference.