Country's first major private gold mine will start at the end of next year will produce on a full scale: DGML MD
Gold in the country is considered a very good option for investment. There are many gold mines in the country. By next year, the first major private gold mine will start in the country. This mine will be of Deccan Gold Mines Limited. The company has informed that from next year he will start production completely.
By next year, the largest private gold production in the country will begin. This mine belongs to Deccan Gold Mines Limited. Regarding the introduction of the gold mine, Hanuma Prasad, Managing Director of Deccan Gold Mines Limited, said that the entire production of the country's first major private gold mine in Andhra Pradesh will start on a full-scale production by the end of next year.
This information has been given by Hanuma Prasad in an interview. He informed that this Jonagiri gold project has started. In this, the pilot scale operation has already started. After the completion of the operation, about 750 kg of gold can be produced per year through this mine.
Deccan Gold Mines Limited is the first and the only gold discovery company listed on BSE. Deccan Gold Mines Limited (DGML) holds a 40 percent stake in Geomisore Services India Limited. It is developing the first private-sector gold mine in Jonagiri.
A total of about 200 crore has been invested in this mine so far. This fracture is currently producing about one kilogram of gold per month. The responsibility of this mine was given in 2013. The search for this mine took 8 to 10 years.
Hanuma Prasad further informed that construction work is going on in the Indian mine (Jannagiri project). Next year, it will come into production around October-November. Ultine Tor Gold Project will produce about 400 kg of gold per year.
This gold mine is located near Jonagiri, Erragudi, and Pagdirai villages within the Tuggali Mandalam in the Kurnool district of Andhra Pradesh.
DGML was established in 2003 by promoters with deep roots in the exploration and mining sector. DGML has long been involved in the search activities for gold in India and abroad. In India, the discovery of DGML, especially in Karnataka, discovered open pit-worthy gold reserves in the Archaean Greenstone belt of Dharwad Creton. These deposits are in the Hutti and Dharwad-Shimoga belts.
Since 2021, as part of expansion and diversification, DGML has launched merger and acquisition activities.
