India to get super rich! Massive gold deposit discovered in..., to produce gold as much as ..
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.
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