Deccan Gold Mines Ltd, India’s first and only listed gold and critical minerals resource company, has announced that the Jonnagiri Gold Project in Andhra Pradesh was formally inaugurated by state chief minister N Chandrababu Naidu, marking a significant milestone for India’s gold mining sector.
The inauguration ceremony was attended by Dr Hanuma Prasad Modali, Managing Director of Deccan Gold Mines Ltd and Board Member of Geomysore Services (India) Pvt Ltd (GMSI), the company developing and operating the project.
During the event, the chief minister felicitated founder of GMSI and Deccan Gold, Charles Devenish in recognition of his contribution to advancing modern gold mining in India.
Expansion plans unveiled
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 highlighted the project’s potential to drive economic growth in the Kurnool district, generate employment and contribute to India’s domestic gold production. He also announced the renaming of Jonnagiri village to “Swarnagiri” and extended support for future expansion initiatives.
The Jonnagiri Gold Project currently processes around 1,000 tonnes of ore per day and is expected to produce 400-600 kilograms of gold annually. Following the planned expansion, processing capacity is expected to increase to approximately 2,500 tonnes per day, with annual gold production exceeding one tonne.
Strategic importance
Dr Hanuma Prasad Modali, 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.”
He added: “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.”
Boost for domestic mining
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 the Jonnagiri Gold Project as a significant milestone that could catalyse further investment in India’s mining and mineral exploration sector.