Deccan Gold shifts from exploration to gold production, builds critical-mineral portfolio

Bengaluru: Deccan Gold Mines, a private-sector gold mining company, is shifting from an exploration-led business to a multi-asset producer, with its gold projects in India and Kyrgyzstan entering the early stages of commercial production.

The company said it has invested about Rs 600 crore in project development since 2020. The investments are now translating into operating assets, production and jobs, managing director Hanuma Prasad Modali said in a statement.

The Jonnagiri Gold Project in India is ramping up production. It produced about 89.7 kg of gold in Q1 FY27, of which around 59 kg was sold during the quarter. The project has generated about 1,000 local jobs, he said.


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In the Kyrgyz Republic, the Altyn Tor Gold Project was inaugurated on September 12 and has started early commercial operations. Deccan Gold holds a 60% stake in the project and has invested around Rs 350 crore. The project has created about 400 local jobs, with production expected to increase over the next four to five years.

“Deccan Gold is at an important inflection point, evolving from an exploration-led company into a multi-asset mining and production platform,” Modali said.

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The company is also expanding beyond gold into critical minerals. Its portfolio includes nickel-copper-PGM assets in Chhattisgarh, lithium-tantalum assets in Mozambique and tungsten-tin assets in Spain.

These minerals are used in batteries, energy storage, electronics, automobiles, defence and advanced manufacturing, the company said.