Amaravati (Andhra Pradesh) [India], June 24 (ANI): Andhra Pradesh Chief Minister N Chandrababu Naidu will inaugurate the gold mining project at Jonnagiri in Tuggali Mandal of Kurnool district on Wednesday, marking a key milestone in the state’s push to expand its mining and industrial footprint.
According to an official release, the Chief Minister is scheduled to reach Jonnagiri at 11:45 AM, where he will inaugurate the first unit of the gold processing plant. Later, at 12:20 PM, he will lay the foundation stone for the second unit of the Geo Mysore plant as part of its planned expansion.
The day-long visit will also include a public address at 3:00 PM, followed by a meeting with TDP leaders and party workers from the Pattikonda Assembly constituency.
The project has been developed with an investment of Rs 405 crore by Geo Mysore Services India Private Limited and Deccan Gold Mines Limited. Trial runs at the mining and processing facilities have already been completed, with commercial production set to begin following the formal inauguration.
The release stated that India’s gold mining story was synonymous with Karnataka’s Kolar Gold Fields (KGF).
Andhra Pradesh’s Jonnagiri in Kurnool district is poised to carve out its own place on the country’s gold map with the country’s largest private-sector gold mining project established at Jonnagiri in Kurnool district.
The government has allotted 1,500 acres for the Jonnagiri Gold Fields project, with mining activities initially commencing on 600 acres in the first phase. Necessary processing plants have already been set up, and the project will be expanded to the remaining area in the second phase.
The plant is expected to produce 400 kilograms of gold in its first year of operations, increasing to 900 kilograms from the following year and gradually scaling up to 2 tonnes of gold annually as processing capacity is expanded. The project is expected to generate employment for around 700 people.
The State Government will receive 4 per cent royalty on the value of gold produced. Based on current estimates, the government is expected to earn approximately Rs 57 crore in royalty from 400 kilograms of production and around Rs 144 crore from 900 kilograms of production. (ANI)
Related reading
