India’s First Largest Private Gold Mine to Begin Full Output by 2024-End

SEATTLE (Scrap Monster): 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 told PTI 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 pm at present. “In the Indian mine (Jonnagiri project) the construction is going on.

By next year, 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 8-10 years to complete exploration (of the project),” Prasad explained.

The managing director further said that production from its another gold mining project in Kyrgyzstan, in which DGML has 60 per cent stake, is likely to begin in either October or November of 2024.

Courtesy: www.dtnext.in