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September 14, 2018
Hutti Gold Mines-Old 2016-17 Annual Report
Around 1 : 19 % shares with Non Govt. shareholders 98 : :81 with Govt. / Govt shareholders
Re-discovery of the various gold fields in the Hutti belt by the Hyderabad (Deccan) Company took place in the closing years of last century after 1980 and a mine of considerable size was established at Hutti (then in Hyderabad State) between 1887 and 1920 when the Main Mine was developed by the Hutti (Nizams's) Gold Mines Co., an offshoot of the Hyderabad (Deccan) Company and mined upto 1056m. depths recovering 7.40 tonnes of gold from about 0.38 million tonnes of ore at an average grade of 19.48 g/t. A little development work was also done during this period on Oakley's & Village Reefs simultaneously. The mines were closed during 1920 as permit development and areas had been worked out and insufficient funds did not permit development and discovery of new reefs or extension of reefs then being worked, apart from difficulties faced from World War I during this period.