Independent India’s first integrated Greenfield gold mining project, located in Andhra Pradesh, is expected to begin its full-scale production by the end of next year in Andhra Pradesh, as per Deccan Gold Mines Ltd's Managing Director Hanuman Prasad.
Deccan Gold Mines Ltd is the first and only BSE-listed gold exploration company and has a 40 per cent shareholding in Geomysore Services India Limited which is developing the first private sector gold mine at Jonnagiri.
This Jonnagiri gold project, in which the pilot scale operation has already started. As per reports, the mine will produce about 750 kilogrammes of gold per annum once it begins its full-scale production. The gold mine, which has received a total investment of about Rs 200 crore so far, is currently producing about one kilogram of gold per month.
Photo: Representative Image
The gold mine is located near the villages of Jonnagiri, Erragudi, and Pagadirayi in Tuggali Mandalam, Kurnool district, Andhra Pradesh.
According to the company's MD Hanuman Prasad. "The mining was granted in 2013 and about 8-10 years to complete exploration" Prasad explained. He further said that production from its other gold mining project in Kyrgyzstan, in which DGML has a 60 per cent stake, is likely to begin in either October or November of 2024. "The Altyn Tor Gold project will be producing around 400 kg gold per annum," he explained.
In India, the only gold mines are in Karnataka at Kolar Gold Fields and Hutti, which were opened in the British era.
The Kolar gold mines were nationalized in 1956 and more than 900 tons of gold were produced there. They were closed by the Government of India on 28 February 2001 for crucial environmental and economic reasons. There was a scarcity of food, water and shelter and production did not justify the investment.
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