Deccan Gold Mines Targets Full-Scale Production at Jonnagiri Gold Project

New Delhi, Sep 3 (PTI) Deccan Gold Mines Ltd (DGML) is working hard to achieve full-scale production of Jonnagiri Gold Project in Andhra Pradesh by the end of ongoing financial year, according to the company's annual report.

DGML, the first and the only gold exploration company listed on BSE, has a significant stake of 40 per cent in Geomysore Services India Ltd (GMSI), which is developing the first private sector gold mine at Jonnagiri.

"At Jonnagiri Gold Project...the company's teams have been working hard to achieve our goal of full-scale production by the end of the current financial year," the report said.

Jonnagiri Gold Project, in which the pilot scale operation has already started, will produce about 750 kilogramme of gold per annum once it begins its full-scale production, DGML Managing Director Hanuma Prasad had earlier said.

The project, owned by GMSI with Thriveni Earthmovers Pvt Ltd and DGML as shareholders – has total mineral resources of 6.5 million tonne. The gold mine is located in Kurnool district of Andhra Pradesh.

DGML was established in 2003 by promoters with deep roots in the exploration and mining sector. DGML for a long period of time has been involved in gold exploration activities in India and overseas.

DGML's exploration in India, particularly Karnataka led to discovery of open pittable gold deposits in the Archaean greenstone belts of Dharwar Craton. These deposits are in Hutti and Dharwar - Shimoga belts.

Since 2021, as part of expansion and diversification, DGML has initiated merger and acquisition activities.