India’s first big private gold mine will start production by the end of next year – Dainik Savera Times
[ad_1]
New Delhi: Deccan Gold Mines Ltd managing director (MD) Hanuma Prasad said full-scale production at the country’s first major private gold mine in Andhra Pradesh will begin by the end of next year. Prasad said in an interview to ‘PTI-Bhasha’ that the Jonnagiri gold project, where work has already started at the initial stage, will produce about 750 kg of gold per year once full-scale production starts.
Deccan Gold Mines Limited (DGML), the first and only gold exploration company listed on BSE, holds 40 per cent stake in Georesources India Limited, which is working on the first private sector gold mine at Jonnagiri. This mine, in which a total investment of around Rs 200 crore has been made so far, is currently producing about one kilogram of gold per month. Prasad said, “Construction work is going on in the Indian mine (Jonnagiri project).
(Full-fledged) production will start here around October-November next year.” The gold mine is located near Jonnagiri, Erragudi and Pagdirai villages within Tuggali Mandalam in Kurnool district of Andhra Pradesh. “The mine…was given in 2013,” Prasad said. It took about eight to 10 days to complete the search work (under the project).
The managing director said that production under another gold mining project of the company in Kyrgyzstan is likely to start in October or November 2024. DGML has 60 percent stake in it. “About 400 kilograms of gold will be produced per year under the Altyn Tor Gold Project,” he said.
[ad_2]
Source link
