The development is significant, as India imports about 1,000 tonnes of gold annually, making it the second-largest import after oil. DGML, the first and only gold exploration company listed on the BSE, holds a stake in Geomysore Services India Ltd, which is developing the Jonnagiri gold project in Andhra Pradesh, the report added.
The project has already received environmental clearance, and state approvals have also been sought. “The project stabilisation is ongoing, and only the plant technology is being worked out. We expect full-scale production to begin very soon,” DGML Managing Director Hanuma Prasad told PTI on the sidelines of the CII India Mining Summit 2025.
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The mine is expected to produce about 750 kilograms of gold annually once operations reach full scale, with plans to scale up to 1,000 kilograms within two to three years. “India’s production of gold as of today is 1.5 tonnes; once our mine starts, nearly one more tonne will be added,” Prasad said.
The Jonnagiri gold mine is located near Jonnagiri, Erragudi, and Pagadirayi villages within the Tuggali Mandalam in Kurnool district of Andhra Pradesh.Established in 2003, DGML has been engaged in gold exploration in India and abroad, with assets spread across the Indian peninsula, Kyrgyzstan, Finland, and Tanzania.At about 3 pm, shares of the company were trading at Rs 135.8, higher by 10% from the last close on the NSE. Deccan Gold Mines Ltd shares have risen 36% in the last six months.
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