India Opens First Private Gold Mine in Andhra Pradesh
India has inaugurated its first private gold mining project at Jonnagiri in Andhra Pradesh, a facility expected to produce 900 kilograms of gold annually and reduce the country's heavy reliance on imports. The project, developed by Thriveni Earthmovers and Geomysore Services with an investment of Rs 405 crore (approximately AUD 75 million), signals a shift in India's approach to domestic resource development at a time of record global gold prices.
What is the Jonnagiri gold mine project?
On June 24, Andhra Pradesh Chief Minister N. Chandrababu Naidu inaugurated the gold mining and processing facility at Jonnagiri in Kurnool district. The state government has allotted 1,500 acres for the project, with mining currently underway on 600 acres in the first phase of development.
The project is being developed by two private firms. Thriveni Earthmovers, based in Tamil Nadu, and Geomysore Services, based in Karnataka, are leading the venture. Geomysore operates in partnership with Deccan Gold Mines Limited. The total investment stands at Rs 405 crore.
In a symbolic move, the state cabinet has renamed the village of Jonnagiri as