In a historic milestone for the domestic mining industry, India has officially commenced commercial operations at its first private gold mine since Independence. Located at Jonnagiri in the Kurnool district of Andhra Pradesh, the project marks the end of a decades-long government monopoly on primary gold production. Recognizing the historical significance of the area, which was a thriving mineral hub during ancient times, the state government has officially renamed the village Swarnagiri.

Developed by Geomysore Services India Private Limited in partnership with Deccan Gold Mines Limited, the integrated greenfield project represents a total investment exceeding 405 crore rupees. The facility is spread across nearly 598 hectares and holds certified gold resources estimated at 13.1 tonnes.

Andhra Pradesh Chief Minister N Chandrababu Naidu inaugurated the project and laid the foundation stone for its second processing unit. The mine is projected to produce around 400 kilograms of refined gold in its first full year of operations. As the second phase rolls out, annual production is expected to scale up to 900 kilograms, eventually reaching a peak capacity of two tonnes per year.

This venture is poised to give a substantial boost to the regional economy. The project will generate approximately 700 direct jobs, with a commitment to hire 80 percent of its workforce from the local community. Furthermore, the first phase is expected to contribute 57 crore rupees annually to the state exchequer through royalties, a figure that will rise to 144 crore rupees as production hits 900 kilograms. By boosting indigenous output, the project aims to reduce India's heavy reliance on bullion imports and conserve valuable foreign exchange.