Deccan Gold Mines Ltd (DGML) is on the verge of commencing full-scale production at India’s first large private gold mine in Andhra Pradesh, a top company official told PTI on Thursday.
The mine, located at Jonnagiri, is being developed by Geomysore Services India Ltd, in which DGML holds a stake. This marks a milestone for India, which currently imports nearly 1,000 tonnes of gold annually, making it the world’s second-largest importer after crude oil.
As the first and only gold exploration company listed on the BSE, DGML’s progress at Jonnagiri is seen as a breakthrough for the domestic mining industry, potentially reducing India’s reliance on costly imports and strengthening its resource self-sufficiency.
The company did not disclose a definitive timeline but confirmed that full-scale operations are set to begin “very soon.”
