Latest news with #JonnagiriGoldProject
India.com
10-06-2025
- Business
- India.com
India to get super rich! Massive gold deposit discovered in..., to produce gold as much as ..
India doesn't have a lot of gold reserves underground, which is why gold is not found here in large amounts like in some other countries. But recently, a major gold deposit has been discovered in India. For the first time since independence, a new gold mine is about to begin operations. This mine is located in the Jonnagiri area of Kurnool district in Andhra Pradesh. A company called Deccan Gold Mines Limited is handling the project and is preparing to start work soon. The Jonnagiri Gold Project is set to become India's first large private gold mine and is expected to produce around 750 kilograms of gold every year. In the first year, it will produce about 400 kilograms, and then gradually increase to full capacity. Interestingly, this will be the first gold mine to start in India in 80 years. So far, Deccan Gold Mines Limited has invested nearly Rs. 200 crore in this project. Another company, Geomysore Services India Limited, owns 40 per cent of Deccan Gold and is helping develop the mine. Together, they are working to make this India's first private gold mining operation. The Andhra Pradesh Pollution Control Board has already given environmental clearance for the mine and processing plant. Before starting full-scale mining, the company will run trial operations for a few months to make sure everything works smoothly. The gold extracted from this mine will be sold to nearby refineries. The company expects that by extracting 400 kilograms of gold in the first year, it could earn between Rs. 300 to Rs. 350 crore, with a profit margin of about 60 per cent EBITDA. They aim to achieve this financial target by the year 2027. After the news that mining permission was granted, the share price of Deccan Gold Mines saw a big jump. On Thursday, the stock closed at Rs. 163.70, rising by 9.73 per cent, which is its highest price in 10 months. In the past one year, Deccan Gold Mines' stock has gone up by around 60 per cent, and since the beginning of 2025, it has grown by about 46.7 per cent. Investors are gaining confidence in the success of the Jonnagiri gold project. This project is expected to extract 6.8 tonnes of gold using an open-pit method. Geomysore, the partner company, has already done deep drilling and surveys in both the eastern and western blocks. With further drilling, the gold estimate might increase to 14 tonnes, which could help the mine run for up to 15 years. The project has received all the required government approvals, like CFE (Consent for Establishment), CFO (Consent for Operation), and Environmental Clearance. The mining plan was approved back in 2008 by the Indian Bureau of Mines. The environmental clearance is valid till 2043, which means the mine can operate for a long time. This gold mine is expected to give a boost to the Indian economy and create new job opportunities for local people. The Jonnagiri project will start with a capacity to process 1,000 tonnes of ore per day, which may later be increased to 2,000 tonnes per day. This is a big step toward helping India become more self-reliant in gold production.
Economic Times
05-06-2025
- Business
- Economic Times
Deccan Gold Mines shares zoom 14% after Jonnagiri gold project receives consent to operate
Deccan Gold Mine announced that its associate, has received Consent to Operate (CTO) from the Andhra Pradesh Pollution Control Board. Deccan Gold Mines shares: In a regulatory filing, Deccan Gold Mines announced that Geomysore has received approval to begin operations at the Jonnagiri project—a key milestone following prior environmental clearances and public consultations. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Deccan Gold Mines surged 14.3% intraday on Thursday to hit a day's high of Rs 170.50 after the company announced that its associate firm, Geomysore Services (India), has received the Consent to Operate (CTO) from the Andhra Pradesh Pollution Control Board (APPCB) for its Jonnagiri Gold Project In a regulatory filing, Deccan Gold Mines stated that it has been informed by Geomysore about the approval, which marks a significant milestone in the development of the Jonnagiri project. The CTO allows Geomysore to initiate the operation phase of the gold project, following earlier environmental approvals and public CTO approval comes after the successful grant of Environmental Clearance by the Expert Appraisal Committee (EAC) of the Ministry of Environment, Forest and Climate Change (MoEFCC) during its meeting held on March 25, clearance pertains to the gold ore processing plant component of the project, and its official confirmation was published on the Ministry's portal on April 18, context to the development, a public consultation process for the project was conducted earlier in February, in Jonnagiri, Andhra Pradesh. Following this, Geomysore applied for the environmental clearance from the MoEFCC in line with the regulatory obtaining the clearance, the firm subsequently applied for the CTO from APPCB in April 2025, completing the final step required before the commencement of gold Jonnagiri project is among the first privately held gold mining initiatives in India to reach this advanced stage of regulatory approval. The company stated that it will continue to keep shareholders informed about future developments.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
05-06-2025
- Business
- Time of India
Deccan Gold Mines shares zoom 14% after Jonnagiri gold project receives consent to operate
Deccan Gold Mine announced that its associate, has received Consent to Operate (CTO) from the Andhra Pradesh Pollution Control Board. Deccan Gold Mines shares: In a regulatory filing, Deccan Gold Mines announced that Geomysore has received approval to begin operations at the Jonnagiri project—a key milestone following prior environmental clearances and public consultations. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Deccan Gold Mines surged 14.3% intraday on Thursday to hit a day's high of Rs 170.50 after the company announced that its associate firm, Geomysore Services (India), has received the Consent to Operate (CTO) from the Andhra Pradesh Pollution Control Board (APPCB) for its Jonnagiri Gold Project In a regulatory filing, Deccan Gold Mines stated that it has been informed by Geomysore about the approval, which marks a significant milestone in the development of the Jonnagiri project. The CTO allows Geomysore to initiate the operation phase of the gold project, following earlier environmental approvals and public CTO approval comes after the successful grant of Environmental Clearance by the Expert Appraisal Committee (EAC) of the Ministry of Environment, Forest and Climate Change (MoEFCC) during its meeting held on March 25, clearance pertains to the gold ore processing plant component of the project, and its official confirmation was published on the Ministry's portal on April 18, context to the development, a public consultation process for the project was conducted earlier in February, in Jonnagiri, Andhra Pradesh. Following this, Geomysore applied for the environmental clearance from the MoEFCC in line with the regulatory obtaining the clearance, the firm subsequently applied for the CTO from APPCB in April 2025, completing the final step required before the commencement of gold Jonnagiri project is among the first privately held gold mining initiatives in India to reach this advanced stage of regulatory approval. The company stated that it will continue to keep shareholders informed about future developments.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Business Standard
05-06-2025
- Business
- Business Standard
Stock Alert: REC, Gland Pharma, Sansera Engg, Force Motors, CESC
Securities in F&O Ban: Manappuram Finance shares are banned from F&O trading on 5 June 2025. Stocks to Watch: RECs board has approved a proposal to raise up to Rs 1.55 lakh crore through the issuance of non-convertible debentures (NCDs) on a private placement basis, in one or more tranches. Force Motors total sales jumped 19.14% to 3,088 units in May 2025 compared with 2,592 units sold in May 2024. Domestic sales jumped 24.46% to 3,002 units while exports sales tumbled 52.22% to 86 units in May 2025 over May 2024. Sansera Engineering has secured an order worth Rs 160 crore from Airbus Defence for the manufacturing, supplying and supporting the Airborne Intensive Care Transport Module (ICTM) for light and medium transport aircraft programs. CESCs subsidiary, Purvah Green Power has entered into agreement with Envision Energy India for supply and commission of wind turbine generator (WTG) totaling 1 GW. Deccan Gold Mines associate company, Geomysore, received the consent to operate (CTO) for its Jonnagiri Gold Project from the Andhra Pradesh Pollution Control Board (APPCB). Gland Pharmas material subsidiary, Cenexi received 11 observations from Agence nationale de suritdu micament et des produits de sant(ANSM), France, for its Fontenay manufacturing facility.
Business Upturn
05-06-2025
- Business
- Business Upturn
Deccan Gold Mines shares surge 10% after company receives CTO from APPCB for its Jonnagiri Gold project
By Aman Shukla Published on June 5, 2025, 09:36 IST Shares of Deccan Gold Mines Ltd soared 10% in early trade after a significant regulatory milestone was achieved for its Jonnagiri Gold Project. The project, operated by Geomysore Services India Pvt. Ltd., has received the much-anticipated Consent to Operate (CTO) from the Andhra Pradesh Pollution Control Board (APPCB). This approval marks a critical step forward in the development of the Jonnagiri Gold Project, one of India's most advanced private sector gold mining ventures. The CTO comes after the successful public consultation held on February 18, 2025, in Jonnagiri, Andhra Pradesh, which was part of the environmental clearance process for the plant component of the project. Following this consultation, the Ministry of Environment, Forest and Climate Change (MoEFCC) granted Environmental Clearance (EC) in April 2025. In accordance with regulatory procedures, Geomysore then applied for the CTO, which has now been approved. This regulatory green light enables Geomysore to begin plant operations and move closer to production, potentially unlocking significant value for shareholders. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
