As per a PTI news report, a new ₹405-crore gold mining project has commenced in Andhra Pradesh’s Kurnool district. The project promises economic benefits as it embarks on producing 400 kg of gold in its first year, with economic implications for the state.
The gold mining project launched by Andhra Pradesh Chief Minister N Chandrababu Naidu on June 24, 2026, marks the first of its kind in Jonnagiri, Kurnool district. Developed by Geo Mysore Services India Private Limited and Deccan Gold Mines Limited, it is being undertaken on 600 acres with plans to extend over 1,500 acres.
The project aims to produce 400 kg of gold in its 1st operational year. Moving forward, production is anticipated to increase annually, eventually reaching a target of 2 tonnes per year. Initially, the state could see royalties of approximately ₹57 crore based on the projected first-year output.
Royalties from the gold production are set to significantly boost the state’s revenues. With plans to increase production to 900 kg annually after the first year, the royalty revenue could rise to ₹144 crore. The venture is marked as the largest private-sector gold mining initiative in India.
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The project is projected to create employment for around 700 individuals, supporting economic growth and community development in the region. This employment projection resonates with the initiative's potential to aid in industrial growth within the state.
The Rs 405-crore gold mining project in Andhra Pradesh's Kurnool is expected to yield 400 kg of gold in the first year, generating ₹57 crore in royalties. The project anticipates employment for 700 and further production scale-up to 900 kg annually, translating to potential royalties of ₹144 crore.
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Published on: Jun 24, 2026, 3:18 PM IST
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