India’s 1st pvt gold mine coming up in AP
Production at Jonnagiri in Andhra Pradesh is expected by 2024; Initial production estimated to be 750kgs annually
image for illustrative purpose
The mine, in which a total investment of about Rs200 cr has been made so far, is producing about one kg of gold per month at present. The construction at Jonnagiri project is going on. By next year, around Nov, that will come into production - Hanuma Prasad, MD, Deccan Gold Mines Ltd
Gold Rush
♦ Deccan Gold Mines Ltd executing project
♦ It’s only gold exploration company listed on BSE
♦ Its another gold mining project in Kyrgyzstan may begin production in Nov 2024
New Delhi: The full-scale production of the country’s first large private gold mine in Andhra Pradesh will begin by the end of next year, said Deccan Gold Mines Ltd Managing Director Hanuma Prasad.
The Jonnagiri gold project, in which the pilot scale operation has already started, will produce about 750 kilogrammes of gold per annum once it begins its full-scale production, Prasad said in an interview.
Deccan Gold Mines Ltd (DGML), the first and only gold exploration company listed on BSE, has a significant stake of 40 per cent in Geomysore Services India Limited, which is developing the first private sector gold mine at Jonnagiri. The mine, in which a total investment of about Rs 200 crore has been made so far, is producing about one kg of gold per month at present. “In the Indian mine (Jonnagiri project) the construction is going on. By next year, around October-November, that will come into production,” Prasad said. The gold mine is located near Jonnagiri, Erragudi and Pagadirayi villages within the Tuggali Mandalam in the Kurnool district of Andhra Pradesh.
“The mine was granted in 2013. It took about about 8-10 years to complete exploration (of the project),” Prasad explained.
