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India plans to auction at least three gold mines this year

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Schoolchildren play in front of an abandoned shaft at Kolar Gold Fields, located in the southern state of Karnataka, India.

New Delhi

INDIA is planning to auction at least three gold mines in 2016, a top government official said, opening up the sector to private firms for the first time ever in a bid to slash imports of the metal that cost the government US$36 billion last year.

Economically crippling

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