B L Bagra takes charge as MD, BGML

The director (finance) of the National Aluminium Company Limited (Nalco), B L Bagra, has taken the additional charge of Managing Director, Bharat Gold Mines Limited (BGML). He will hold the post for a period of two years. The Kolar Gold Fields of BGML in Karnataka, once abuzz with hectic activities, was closed down by the government in 2001 after its operation was rendered unviable due to old technology and losses. After retrenching all the employees, the government has been contemplating to dispose of all the assets of the unit including land, building, equipment and the mining dumps. However, to give one more try the Union ministry of mines has decided to restart the mining activities through external agency. Besides new areas, since technology has improved over the years, gold can still be recovered even from the huge mining dumps accumulated over almost a century. Following this decision to restart the company, the Union government has chosen Bagra to work out modalities of revival. This will be done under the supervision of the ministry and the Karnataka High Court. Source: business-standard