BGML to consult Mecon on rebirth

'BGML shall be revived as per the Cabinet decision of July 27, '06'

Bharat Gold Mines Ltd (BGML), a ministry of mines undertaking today authorised public sector Mineral Exploration Corporation Ltd (Mecon) to prepare the bid documents for the revival of the company. Both the companies signed an MoU in Delhi to this effect.

As per the agreement, Mecon will prepare the tender documents and float global tenders for the revival of now defunct gold mines at Kolar Gold Fields in Kolar district. The mines were closed in 2001 due to economic unviability of running the gold mines.

Mecon has been engaged as consultant to BGML for providing consultancy services for global bidding process, a press statement issued by the office of K H Muniyappa, minister for MSME said.
 

The Supreme Court full bench headed by the chief justice of India, in its July 9, 2013 order, had directed for floating the global tenders for the revival of BGML at the earliest.

While setting aside the Karnataka High Court order, which had stayed the company bench order, the Apex Court order said, "BGML shall be revived as per the Central Cabinet decision taken on July 27, 2006."