Jonnagiri Gold Project Inaugurated by AP Chief Minister
DECNGOLD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Deccan Gold Mines announced the inauguration of its Jonnagiri Gold Project in Andhra Pradesh by the state Chief Minister. Described as India's first significant private-sector gold mine since Independence, the project currently processes about 1,000 tonnes of ore per day and produces 400-600 kg of gold annually. A planned expansion will raise capacity to around 2,500 tonnes per day, with annual gold production expected to exceed one tonne. The Chief Minister laid the foundation stone for the expansion and announced state support, while the village was renamed Swarnagiri.
Flags a major production capacity ramp-up backed by state government support, which could drive higher future revenue and earnings growth.