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Sone Ki Chidiya: Twitterati can't keep calm over gold found in UP

BusinessToday.In     February 22, 2020

Sonbhadra in Uttar Pradesh has hogged national and international headlines after geologists discovered massive gold deposits in the second largest district of the state. As per estimates, there are two goldmines with around 3,500 tonnes of gold ore in the Sonbhadra district, which is around five times the gold reserves of the country. The current gold reserves of the country is around 626 tonne.

Given the current market price of gold at Rs 41,000 per 10 grams, the estimated cost of Sonbhadra gold mines would be more than 14.35 lakh crore. At the rate of Rs 41,000 per 10 grams, 1 kg of gold will cost Rs 41 lakh and 1 ton of it will cost Rs 410 crore. As a result, 3,500 tonne of gold will cost 14.35 lakh crore.

The discovery is expected to give a boost to the finances of the country. If 3,500 tonne of gold in Sonbhadra is added to country's gold reserves, India will have the second largest gold reserves in the world, next to those of the United States. US has 8,133 tonne of gold reserves, followed by Germany with 3,366 tonne.

Also Read: 3,350 tonne goldmine found in UP - 5 times India's reserves

Here's how Twitterites reacted to gold discovery in UP's Sonbhadra district:

Some people argue that the discovery of gold was a blessing and India would be again known as "Sone Ki Chidiya" (Golden Bird). India was the wealthiest land in the ancient times and hence it was called "Sone Ki Chidiya".

Another user said God is helping us to make Bharat 'Sone ki Chidiya' again. Let's see how Indian government operates these mines?

Another user said the name "Sonbhadra" cannot be a coincidence, maybe mining was already done over here in ancient India.

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