Geomysore Services India Pvt Ltd develops Jonnagiri gold mine in Andhra Pradesh

Key facts

• The Jonnagiri project in Kurnool district, Andhra Pradesh, is India’s first large-scale private gold mine since Independence.
• Developed by Geomysore Services India Pvt Ltd, the project is scheduled to begin operations in early May.
• The mine spans nearly 598 hectares across Jonnagiri, Erragudi, and Pagidirayi villages with investments exceeding ₹400 crore.
• The project has certified gold resources of 13.1 tonnes, with exploration indicating a potential increase to 42.5 tonnes.
• At peak capacity, the mine is expected to produce up to 1,000 kg of refined gold annually over the next 15 years.
• India currently imports over 800 tonnes of gold annually, while Hutti Gold Mines produces approximately 1.5 tonnes per year.
• The National Mineral Development Corporation (NMDC) Ltd has focused on overseas gold assets following the closure of Kolar Gold Fields in 2000.
• The World Gold Council (WGC) reported that gold Exchange Traded Funds (ETFs) recorded net inflows of ₹22.7 billion in March and record inflows of ₹316 billion in the first quarter.
• Total gold ETF holdings rose to 115 tonnes.