India's First Private Gold Mine Poised for Production Boom
Deccan Gold Mines Ltd is set to begin full-scale production at India's first large private gold mine in Andhra Pradesh. This development could significantly reduce India's gold imports, as the Jonnagiri gold project gears up to produce 750 kilograms annually, with plans to increase output in the coming years.
- Country:
- India
In a groundbreaking development for India's mining sector, Deccan Gold Mines Ltd is on the brink of commencing full-scale production at the nation's first sizable private gold mine located in Andhra Pradesh.
The move is poised to significantly impact India's heavy reliance on gold imports, which currently stands at around 1,000 tonnes annually. The Jonnagiri project, having received environmental clearances, expects to produce approximately 750 kilograms of gold each year.
As the project stabilizes, plans are underway to escalate production levels to 1,000 tonnes over the next two to three years, according to Hanuma Prasad, Managing Director of Deccan Gold Mines Ltd.
(With inputs from agencies.)
Advertisement
Google News