Synopsis: India’s first private gold mine at Jonnagiri in Andhra Pradesh, developed by Geomysore Services and Deccan Gold Mines Ltd, is set to produce 750 kg of gold per year, a milestone that could ease India’s heavy reliance on imports.
India is poised to open a new chapter in its mining industry with the launch of the country’s first private gold mine at Jonnagiri in Andhra Pradesh. Developed by Geomysore Services India Ltd, with support from Deccan Gold Mines Ltd (DGML), the project is expected to produce 750 kilograms of gold annually, strengthening both local and national supplies.
Reducing Import Dependence
Gold is India’s second-largest import after oil, with nearly 1,000 tonnes imported annually to meet domestic demand. However, the country’s own production is negligible at around 1.5 tonnes per year. The Jonnagiri mine is expected to add nearly a tonne to domestic output, making a meaningful contribution toward reducing import dependency.
Jonnagiri Gold Mine: Private Sector Breakthrough
Located in the Tuggali Mandalam region of Kurnool district, Andhra Pradesh, the Jonnagiri mine is the first such project in the private sector. It has secured all necessary environmental clearances and is preparing for full-scale operations.
DGML, the only gold exploration company listed on the BSE, is partnering in the project through its stake in Geomysore Services. This marks a significant milestone for the company, as well as for India’s mining sector.
Production Outlook
The mine is projected to produce 750 kg of gold annually in its initial phase, with potential for expansion over the next two to three years. For India, which has long grappled with import dependency, the project signals an important step toward self-reliance in gold production.
About Deccan Gold Mines Ltd (DGML)
Founded in 2003, DGML has been at the forefront of India’s gold exploration and mining sector. With exploration projects spread across multiple regions, both in India and overseas, DGML has now emerged as the pioneer of private-sector gold mining in India through its role in the Jonnagiri project.
Summary:
India’s first private gold mine at Jonnagiri, Andhra Pradesh, developed by Geomysore Services and Deccan Gold Mines Ltd, is projected to produce 750 kg of gold annually. The project aims to boost domestic supply, reducing India’s heavy reliance on imports of nearly 1,000 tonnes each year, and marks a major milestone for the private mining sector.
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