India has very negligible gold production, for a country that consumes so much gold
The value of gold mining production in India is about Rs. 312 crores
There is therefore so much imports of Gold at high purity levels as the import duty used to be same as that of gold dores of less purity
Recent differentiation of the duty changes have become attractive for the dore refining Industry in India
There is also good prospects if Gold ore either raw or concentrated are imported into India, then there is potential for Small Scale processing of Gold from imported materials are possible
Only the transportation Cost of import of Gold bearing ore either raw or concentrated is going to be the additional cost
There is already some imports are taking place from Africa especially from Ethopia , Ghana and others as it appears to be Profitable
more information here
The value of gold mining production in India is about Rs. 312 crores
There is therefore so much imports of Gold at high purity levels as the import duty used to be same as that of gold dores of less purity
Recent differentiation of the duty changes have become attractive for the dore refining Industry in India
There is also good prospects if Gold ore either raw or concentrated are imported into India, then there is potential for Small Scale processing of Gold from imported materials are possible
Only the transportation Cost of import of Gold bearing ore either raw or concentrated is going to be the additional cost
There is already some imports are taking place from Africa especially from Ethopia , Ghana and others as it appears to be Profitable
more information here
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