India's first commercial-scale private-sector gold mining operation since Independence was inaugurated on June 26 at the Jonnagiri Gold Mine in Kurnool district, Andhra Pradesh. The project was jointly inaugurated by Andhra Pradesh Chief Minister N. Chandrababu Naidu and B. Prabhakaran, MD & Chairman of Lloyds Metals & Energy.

Located across Jonnagiri, Erragudi and Pagidirayi villages in Tuggali mandal, the mine has been developed through Geomysore Services India Pvt. Ltd. and is backed by Lloyds Metals & Energy and the Thriveni Group. The project aims to strengthen India's domestic gold production at a time when the country imports between 700 and 1,000 tonnes of gold annually to meet demand.

Spread across nearly 598 hectares, the project has attracted investments exceeding Rs 400 crore. At peak capacity, the mine is expected to produce up to 1,000 kg of refined gold annually and has an estimated operational life of around 15 years. Current certified gold resources are estimated at approximately 13.1 tonnes, while ongoing exploration indicates the potential for additional resources across the mineralized belt.

Speaking at the inauguration, B. Prabhakaran, MD & Chairman, Lloyds Metals & Energy, said, "Jonnagiri Gold Mine marks the beginning of a new chapter for India’s gold mining industry. For decades, India has been one of the world’s largest consumers of gold while remaining heavily dependent on imports."

He added, "Today, we are demonstrating that India can discover, develop and operate world-class gold mining assets at commercial scale. Our vision extends beyond a single project. We aim to build a sustainable domestic gold ecosystem that supports economic growth, generates employment, contributes to national resource security and positions 'Made in India' refined gold in both domestic and international markets. Jonnagiri is a true testament of 'Atmanirbhar Bharat' towards creating a portfolio of globally competitive gold mining assets in the country."

The project comes as gold prices remain elevated and is expected to contribute to domestic supply, generate employment, support local businesses and encourage further exploration and investment in India's gold mining sector. Commercial production is also expected to strengthen the domestic gold value chain and support the availability of refined gold produced within India for domestic and international markets.