Latest news with #HanumaPrasadModali
Time of India
5 days ago
- Business
- Time of India
Deccan Gold Mines says it made first-ever nickel–copper–platinum group sulphide discovery in India
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Bengaluru-headquartered Deccan Gold Mines Limited (DGML), a listed gold and critical minerals resource company, on Monday announced what it called "the first-ever discovery in India" of Nickel–Copper–Platinum Group Element (Ni–Cu–PGE) sulphide mineralization in the Bhalukona–Jamnidih block of surveys and follow-up geophysical surveys have identified a potential Ni–Cu–PGE sulphide mineralized zone, the company said in an exchange filing as well as in a media statement. DGML said it planned to commence test drilling shortly to further assess and validate the scale and grade of the landmark discovery follows DGML securing a 30 sq. km Composite Licence for the Bhalukona–Jamnidih block in Basana Tehsil, Mahasamund District on April 1, 2025. The company initiated exploration activities immediately upon receiving all approvals, carrying out geological mapping, rock chip sampling, drone magnetic surveys, and an induced polarisation (IP) survey, the statement results reveal a 700-metre-long mineralized zone hosted in prospective mafic–ultramafic rock formations, with geophysical data indicating sulphide mineralization extending to depths of around 300 metres. Nickel, copper, and platinum group elements are critical minerals that play a pivotal role in electric vehicle batteries renewable energy systems , advanced electronics, and strategic industries. This discovery significantly strengthens India's ability to build self-reliance in critical minerals and supports the governments' vision for Atmanirbhar Bharat , the company managing director Hanuma Prasad Modali said: 'This is a proud moment for India and for Deccan Gold Mines. For the first time in our country's history, such a Nickel–Copper–Platinum Group sulphide mineralization has been identified. This find places India firmly on the global critical minerals map at a time when these resources are vital for clean energy technologies , advanced manufacturing, and national security.''The Government of India has rightly prioritized critical minerals as a strategic imperative for achieving Atmanirbhar Bharat and leading the global energy transition. Our discovery in Chhattisgarh is a tangible step in that direction. We are committed to developing this resource responsibly, creating value for our ~40,000 shareholders, contributing to local communities, and supporting India's journey towards self-reliance in critical mineral supply chains," Hanuma added.
Time of India
08-07-2025
- Business
- Time of India
Deccan Gold Mines on track to commission its project in Kyrgyzstan
Deccan Gold Mines Ltd (DGML) on Tuesday said its flagship Altyn Tor Gold project in Kyrgyzstan has achieved a major construction milestone and will commission its crushing and milling circuit in the second half of 2025. The project, located in Kyrgyzstan's gold-rich mountains, is operated by Avelum Partners LLC, in which Deccan Gold holds a 60 per cent controlling interest. Once operational, it will become the first Indian-owned gold production facility in Central Asia. "With the ball mill foundation laid and key equipment fabrication accelerating, we are on track for timely commissioning - proof that responsible mining and rapid execution can go hand in hand," Managing Director Hanuma Prasad Modali said in a statement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Wat vrouwen 60+ doen tegen urineverlies – zonder medicijnen Damesondergoed Meer informatie Undo Pumps, compressors and conveyors have been ordered and are expected onsite within four weeks. A sewerage treatment plant has been ordered to meet Kyrgyzstan's ecological standards, and preparations are ongoing to commission the crushing and milling circuit within two months. "This is not just a mining project - it's an economic catalyst," Modali said. "We are committed to long-term partnerships and sustainable growth in Kyrgyzstan. Our project has already integrated over 150 local workers, and we are just getting started." Live Events Deccan Gold is pursuing an aggressive drilling program of approximately 5,000 metres to expand the project's resource base. Results from 2024 exploration revealed high-grade mineralisation extending west and below the current pit design. The ongoing program is expected to increase total resources beyond 200,000 ounces of gold, unlock opportunities for both a larger open pit and high-grade underground operation, and extend mine life to over 10 years. Deccan Gold Mines, listed on the BSE, describes itself as India's first and only listed gold exploration company . Established in 2003, the company holds exploration assets across India and internationally, including projects in Andhra Pradesh, Karnataka, Mozambique, Kyrgyzstan and Finland.
India.com
06-06-2025
- Business
- India.com
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.
Business Upturn
24-04-2025
- Business
- Business Upturn
Deccan Gold Mines begins work on Bhalukona-Jamnidih Nickel, Chromium, and PGE block in Chhattisgarh
By Aditya Bhagchandani Published on April 24, 2025, 13:13 IST Deccan Gold Mines Limited, India's only listed strategic and critical mineral resource company, has announced the commencement of exploration activities over its Bhalukona-Jamnidih composite licence block in Chhattisgarh. The site holds potential for nickel, chromium, and platinum group elements (PGE), marking a strategic step in securing India's mineral independence under the vision of Atmanirbhar Bharat. The company received its work permit on April 9, 2025, and has since started key groundwork. These include demarcation of the composite licence boundary via DGPS survey, notifying local panchayat leaders, and setting up survey controls for an advanced drone magnetic geophysical survey. Consent from landowners for trenching and drilling will follow based on the delineation of mineralized zones. Managing Director Dr. Hanuma Prasad Modali expressed optimism about the project's scientific approach. 'We are excited to apply the latest geophysics to identify potential mineralized zones,' he said. 'Support from local communities and fast mobilization by consultants has been encouraging.' The next phases will involve more detailed geophysical analysis, geological mapping, and soil geochemistry studies, with Deccan Gold promising timely updates for its ~40,000 shareholders. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
