India's first gold mine since independence to produce around 750 kgs of gold annually, expected to bring Rs 3500000000 in earning, it is located in…, name is…
India's first gold mine since independence to produce around 750 kgs of gold annually, expected to bring Rs 3500000000 in earning, it is located in..., name is
For the first time since India's independence, a new gold mine is about to start operations in the country. This mine is located in Jonnagiri, a region in Kurnool district of Andhra Pradesh. It is expected to produce around 750 kilograms of gold every year. The company handling this project is Deccan Gold Mines Limited, which has now received approval from the Andhra Pradesh Pollution Control Board to begin mining. The mine will be run in partnership with another company called Geomysore Services (India) Pvt. Ltd.
According to Hanuma Prasad Modali, the Managing Director of Deccan Gold Mines, the mine will produce around 400 kg of gold in the first year, and once it reaches full capacity, production will increase to 750 kg annually. He also shared that this is the first gold mine to be opened in India in the last 80 years.
After the announcement, the share price of Deccan Gold Mines jumped by nearly 10 per cent on Thursday, showing strong market interest in the project. Estimated Earnings: Rs. 300 to Rs. 350 Crore
Now that the Andhra Pradesh Pollution Control Board has given its final approval, Deccan Gold Mines can begin operating both the mine and the processing plant. However, the company has said that it will take a few more months before actual work starts, as trial runs need to be done before full-scale mining begins.
The gold extracted from this mine will be sold to nearby refineries for processing.
Speaking about the revenue, the company estimates that if they manage to extract 400 kilograms of gold in the first year, it could bring in Rs. 300 to Rs. 350 crore in earnings. This is based on an expected EBITDA margin of 60 per cent. The company believes that this level of revenue may be achieved by the financial year 2027. Shares soar after mining approval
Once the news broke that Deccan Gold Mines had received permission to begin mining, its stock took off. The share price climbed to a 10-month high, closing at Rs. 163.70 on Thursday, a jump of 9.73 per cent for the day. Over the last year, Deccan Gold's shares have risen by around 60 per cent, and since the start of 2025, they've already gained 46.7 per cent.
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