Vedanta Resources, the natural resources conglomerate, is likely to expand its business into gold mining and is looking at bidding for Bharat Gold Mines (BGML), which owns Kolar gold mines in Karnataka.

Kolar gold fields were once considered one of the largest gold fields in India. However, it was closed in 2001 due to mounting losses and depleting reserves. The BGML employees, opposed to closure, had challenged it in various courts.

In June, the Supreme Court approved the government's plan of floating a global tender for selling the assets of BGML so that the Kolar gold mines could be restarted.

Recently, the Mines Ministry, the parent ministry of BGML, had invited bids for appointing consultants to sell the BGML assets.

The scope of work for consultancy services includes preparing documents like request for proposal and memorandum of understanding, determining reserve price for the sale, and selection of successful bidders, among other things.