Jaipur, June 26 : The Bhukia-Jagpura gold mine discovered in Rajasthan's Banswara will attract industrial investments worth crores, and generate employment and revenue, officials have said.

Rajasthan Mines Secretary Anandi said that the state government will receive Rs 500 crore as revenue in three instalments as upfront payment following its auction; the first instalment of the same will be received in 15 days and shall be around Rs 100 crore.

According to rough estimates, the state government will get Rs 1 lakh crore in revenue after the start of mining work in Banswara in the next 50 years. Also, around 50,000 youth will get employment directly and indirectly in the state from gold mining and processing, he said.

Anandi said that along with gold, other co-minerals like copper, cobalt, nickel etc. will also be obtained from this gold mine. "This will generate unprecedented direct and indirect employment opportunities along with new investments in many industries including aerospace, electronics, air bags and the jewellery industry in the state. New investments in the state's co-mineral-related industries will also generate huge opportunities for revenue and direct-indirect employment," he added.

The Mines Secretary further said that the state government has completed the process of auctioning the Bhukia-Jagpura mining block for gold and ore mining in Banswara. The licence for the block has been allotted to Madhya Pradesh's Ratlam-based Syed Owais Ali firm, which won the auction with the highest premium of 65.30 per cent.

According to the Geological Survey of India, Banswara's Bhukia-Jagpura mine is estimated to have 113.52 million tonnes of gold ore. During the mining of gold ore, co-minerals will also be found.

Director Mines Bhagwati Prasad Kalal said that Kankaria-Gara mines in Banswara were also explored which gave indications of gold ore during the initial exploration. E-auction has been done for a composite licence for further exploration in the Kankaria-Gara block.

/IANS