The Jonnagiri Gold Project in Andhra Pradesh was formally inaugurated by the Hon'ble Chief Minister of Andhra Pradesh, Shri N. Chandrababu Naidu on June 24, 2026. This represents India's first significant private-sector gold mine since Independence.
During the inauguration ceremony, the Chief Minister toured the mining and processing facilities, including the on-site gold refinery, and laid the foundation stone for the next phase of plant expansion. He felicitated Mr. Charles Devenish, founder of Geomysore Services (India) Pvt. Ltd. (GMSI) and Deccan Gold, in recognition of his contribution to advancing modern gold mining in India.
The Chief Minister announced the renaming of Jonnagiri village to "Swarnagiri" and extended support for future expansion initiatives. He highlighted the project's potential to drive economic growth in the Kurnool district, generate employment, and contribute to India's domestic gold production.
Operational Details
The project currently processes approximately 1,000 tonnes of ore per day and is expected to produce 400-600 kilograms of gold annually. Upon completion of the planned expansion, processing capacity is expected to increase to approximately 2,500 tonnes per day, with annual gold production exceeding one tonne.
Management Commentary
Dr. Hanuma Prasad Modali, Managing Director of Deccan Gold Mines Limited and Board Member of Geomysore Services (India) Pvt. Ltd., stated that Jonnagiri represents a landmark achievement for India's mining sector and demonstrates how responsible resource development can unlock long-term value for communities and the nation. He emphasized the strategic importance of developing domestic mineral resources given India's heavy dependence on gold imports.
Company Background
Deccan Gold Mines Ltd. (BSE: 512068) is India's first and only listed gold and critical minerals resource company, established in 2003. The company has built a diversified portfolio of gold and critical mineral assets across India and internationally, spanning Andhra Pradesh, Kyrgyzstan, Chhattisgarh, Spain, Mozambique, Finland, and Tanzania.