India’s first private gold mine to begin output soon
Hindustan Zinc, JK Cement, others emerge as technically qualified bidders for 2 gold mines in Rajasthan; Auction of both the gold blocks will be held this week
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New Delhi: The full-scale production at Deccan Gold Mines, India’s first large private gold mine in Andhra Pradesh, will begin by the end of 2024. The Jonnagiri gold project, for which the pilot scale operation has already started, will produce about 750 kilogram of gold per annum once it begins its full-scale production, said Hanuma Prasad, Managing Director, Deccan Gold Mines. The mine, in which investment of Rs 200 crore has been made so far, is producing about one kg of gold per month at present, he added.
Meanwhile, Vedanta group firm Hindustan Zinc, Jindal Power and JK Cement are among the few companies that have emerged as technically qualified bidders for two gold mines put up for sale in Rajasthan.
Ramgad Minerals and Mining Ltd, Hirakund Natural Resources Ltd, Jindal Power, Hindustan Zinc and Saiyyed Owais Ali have emerged as technically qualified bidders for Bhukia-Jagpura gold block in the desert state. The auction process started in March this year. According to the website, the auction of both the gold blocks will be held this week.
Deccan Gold buys lithium blocks
Deccan Gold Mines Ltd (DGML), India’s only listed gold exploration and mining company, on Tuesday said it has acquired majority stake in five lithium blocks in Mozambique, Africa.
“The JV with Magnifica Group, shall unleash synergies in upstream capabilities and eventually also midstream that will cater to a burgeoning Indian market,” Hanuma Prasad Modali, Managing Director, Deccan Gold Mines, said.
