>FactCheck105 at 14:56, 27 May 2021

2021-05-27T14:56:56Z

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{{Use dmy dates|date=January 2020}}
{{Use Indian English|date=January 2020}}
'''Hutti Gold Mines Limited''' ({{lang-kan|(ರಾಯಚೂರು ಹಟ್ಟಿ ಚಿನ್ನದ ಗಣಿ}}) (HGML) is a company located in the state of [[Karnataka]], [[India]] and engaged in the [[mining]] and production of [[gold]]. This was first established as Hyderabad Gold Mines in 1947. With the closing of [[Kolar Gold Fields]] in 2001, this is the one of the two companies in India which produce gold by mining and processing the gold ore, the other being Manmohan Minerals Industries Pvt. Ltd. Owned by the [[Government of Karnataka]], HGML has two plants located in [[Hutti]] and [[Chitradurga]]. HGML mines gold from its main gold mine located in [[Hatti Gold Mines|Hutti]] and other satellite mines.

==Executive==
The Company's Corporate Office is located in [[Bangalore|Bengaluru]].

==Mining==
The mines managed by HGML are mainly located in the Hutti-Muski [[precambrian]] greenstone belt which contains both readily extractable native gold and gold-bearing [[sulphide]]s.<ref name="mine">{{cite web|url=http://www.hinduonnet.com/thehindu/seta/2002/02/21/stories/2002022100060300.htm|work=Online Edition of the Hindu, dated 2002-02-21|publisher=2002, The Hindu|title=Biotechnology in gold extraction|accessdate=2007-08-02}}</ref> HGML consists of two gold units:<ref name="unit">{{cite web|title=HGML Gold Mines|url=http://pib.nic.in/archieve/lreleng/lyr2003/rjul2003/30072003/r3007200313.html|work=Online webpage of the Press Information Bureau|publisher=Government of India|accessdate=2007-08-02}}</ref>
* Hutti Gold Unit: This consists of HGML's main mine located at Hutti and the satellite mines- Uti and Hirabuddini, all of which are located in the [[Raichur district]]. Hutti is an underground mine, Uti is an [[open-cast mine]] while Hirabuddini is an exploratory mine.
* Chitradurga Gold Unit: This consists of an open-cast mine located in Ajjanahalli in [[Tumkur district]] and an exploratory underground mine at G. R. Halli in [[Chitradurga district]].<ref name="fin">{{cite web|url=http://www.hinduonnet.com/thehindu/2002/01/17/stories/2002011703030300.htm|work=Online Edition of The Hindu, dated 2002-01-17|title= Hutti Gold Mines becomes member of World Gold Council|publisher=The Hindu|accessdate=2007-08-01}}</ref>

These mines in total produce about 3 tonnes of gold a year.<ref name="mine"/> With the closure of the Bharat Gold Mines Limited which had operations at [[Kolar Gold Fields]] in Karnataka and at [[Chittoor district]] in [[Andhra Pradesh]], HGML is one of the only two companies in India that produce gold by mining.<ref name="pib">{{cite web|url=http://pib.nic.in/release/release.asp?relid=21478|work=Online webpage of the Press Information Bureau|title=Gold Production during April-September, 2006|publisher=Government of India|accessdate=2007-08-01}}</ref><ref name="mines">{{cite web|url=http://mines.nic.in/imsene.html|work=Online webpage of the Department of Mines|publisher=Government of India|title=Ministry of Mines|accessdate=2007-08-01|archive-url=https://web.archive.org/web/20070823060003/http://mines.nic.in/imsene.html|archive-date=23 August 2007|url-status=dead}}</ref> It has gold ore reserves of about 31.02 million tonnes which could last for about 60 years and yield about 150.4 tonnes of gold.

==Extraction of gold==
The process of [[Cyanide process|cyanide leaching]] is used by HGML to extract native gold which is present in a [[quartzite]] matrix.<ref name="mine"/> However, this method cannot be used to extract gold which is present in sulphides. HGML has made use of advanced technologies like [[biotechnology]] to come up with a cheaper and efficient method to extract gold from sulphides. With the help of the [[Indian Institute of Science]], Bangalore, an extraction method was devised in which the sulphides were subjected to [[oxidation]] using the [[bacteria]], ''[[Thiobacillus ferrooxidans]]'' under optimal conditions. The bacteria dissolved the sulphides like [[pyrite]] and [[arsenopyrite]] and thus revealed the native gold. The native gold was then subjected to cyanide leaching to produce pure gold. This method also produces other precious metals like [[silver]] which could be present in the sulphides. After repeated experimentations to come up with the optimal procedure, HGML constructed the first [[bioreactor]] in the middle of 2001.

==Business==
HGML had an accumulated loss of ₹ 30 crores ($7.5 million) for the period 1995-2000 but made up this loss a bit by generating profits of ₹ 19 crores ($4.75 million) in the first nine months of 2001.<ref name="hind1">{{cite web|url=http://blonnet.com/2002/01/18/stories/2002011800140900.htm|work=Online Edition of the Hindu, dated 2002-01-18|publisher=2002, The Hindu|title=Hutti Gold Mines to upgrade milling plant|accessdate=2007-08-02}}</ref> It went back into red in the year 2002-2003 and was on the verge of closure before it bounced back in the year 2004-2005 to post a profit of ₹ 48crores ($12 million).

According to a preliminary audit for 2011-12, the company has achieved a gross profit of ₹ 551.13 crores before tax by selling gold and wind power generated from the [[Chitradurga]] wind plant. This is the biggest profit generated by the company in its history.<ref>[http://www.thehindu.com/news/states/karnataka/article3367705.ece Hutti gold mines records net profit of Rs. 188 cr]</ref>

==Notes==
{{reflist}}

[[Category:Gold mining companies of India]]
[[Category:Companies based in Karnataka]]
[[Category:Mining in Karnataka]]
[[Category:Indian companies established in 1947]]

Hutti Gold Mines Limited - Revision history

>FactCheck105 at 14:56, 27 May 2021