India’s first private gold mine inaugurated in Andhra Pradesh, set to produce 900 kg gold annually

Andhra Pradesh Chief Minister N. Chandrababu Naidu on Wednesday inaugurated a gold mining and processing project worth Rs 405 crore at Jonnagiri in Kurnool district. The project is described as India’s first private gold mine and is expected to produce about 900 kg of gold annually once operations reach full capacity. The Andhra Pradesh government is estimated to initially earn around Rs 57 crore annually from the project. The revenue is expected to rise to about Rs 144 crore a year when gold production reaches the targeted 900 kg level.

India’s annual demand for gold remains significantly higher, estimated at around 700 to 900 tonnes every year. Ahead of the inauguration, Jonnagiri was renamed as “Swarnagiri,” which translates to “Golden Hill” or “Mountain of Gold.” The project is expected to contribute to mineral development and economic activity in the region while adding to domestic gold production.