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Jonnagiri Gold Project Inaugurated by Andhra Pradesh Chief Minister Shri. N Chandrababu Naidu
Posted On : 2026-06-25 13:35:14( TIMEZONE : IST )
Deccan Gold Mines Limited ("Deccan Gold") has announced that the inauguration of Jonnagiri Gold Project took place on June 24, 2026.
Dr Hanuma Prasad Modali, Managing Director attended the event on behalf of Deccan Gold and as a member of the Board of our associate company, Geomysore Services (India) Pvt Ltd ("GMSI").
Given the importance of the mine to Andhra Pradesh, the Company was delighted to have Chief Minister N Chandrababu Naidu inaugurate the Project. During the ceremony, the Chief Minister felicitated Mr Charles Devenish, founder of GMSI and Deccan Gold.
The Chief Minister toured the operation including the on-site gold refinery and then laid the foundation stone for the expansion of the processing plant. In his presentation, the Chief Minister reiterated how the Project will usher in a new phase of economic growth to the Kurnool District as well as contributing to the nation's domestic gold production. He also announced the renaming of Jonnagiri village to Swarnagiri and promised GMSI support with further land acquisitions and other items relating to the expansion of the operations.
The Jonnagiri Gold Project will process about 1,000 tonnes of ore per day through the state-of-the-art processing facility and produce approximately 400-600 kg of gold each year. When the mill expansion is completed, the Project will treat about 2,500 tonnes of ore per day and produce over 1 tonne of gold per annum.
Dr. Hanuma Prasad Modali, Managing Director, Deccan Gold Mines Limited, said: "Jonnagiri is a landmark achievement for India's mining sector and a powerful example of how responsible resource development can unlock long-term value for communities and the nation. At a time when India remains heavily dependent on gold imports, projects like Jonnagiri demonstrate the strategic importance of developing domestic mineral resources."
"We congratulate Geomysore Services and all stakeholders involved in this achievement, and sincerely thank the local communities, farmers, and landowners for their trust and support throughout the project's journey. Jonnagiri is more than a gold mine - it represents a new chapter for India's mining industry. At Deccan Gold, our vision is to help build a globally competitive gold and critical minerals sector that strengthens resource security, drives economic growth, and creates sustainable long-term value", adds Dr. Hanuma.
The inauguration comes at a time when India is placing increasing emphasis on domestic resource development, critical minerals, and supply-chain security. Industry observers view Jonnagiri as a significant milestone that could catalyse further investment in India's mining and exploration sector.
Shares of DECCAN GOLD MINES LTD. was last trading in BSE at Rs. 212.00 as compared to the previous close of Rs. 217.95. The total number of shares traded during the day was 875207 in over 8357 trades.
The stock hit an intraday high of Rs. 224.50 and intraday low of 206.25. The net turnover during the day was Rs. 187091931.00.
