Lloyds-Backed Jonnagiri Gold Mine Opens as India’s First Private Gold Mine Since Independence

B Prabhakaran, MD & Chairman, Lloyds Metals & Energy, and Chief Minister of Andhra Pradesh N Chandrababu Naidu jointly inaugurated the Jonnagiri Gold Mine in Kurnool district, marking the start of India’s first commercial-scale private-sector gold mining operation since Independence.

Located across Jonnagiri, Erragudi, and Pagidirayi villages in Tuggali mandal, the project is an important step towards strengthening India’s domestic gold production capabilities. At a time when the country remains one of the world’s largest consumers of gold, Jonnagiri brings commercial-scale gold mining back into focus.

Spread across nearly 598 hectares with investments exceeding INR 400 crore, Jonnagiri is expected to produce up to 1,000 kg of refined gold annually at peak capacity and has an estimated mine life of around 15 years. Current certified gold resources stand at approximately 13.1 tonnes, with exploration indicating the potential for larger resources across the broader mineralized belt.

Developed through Geomysore Services India Pvt Ltd, and backed by Lloyds and Thriveni Group, the mine brings commercial-scale gold production back to India at a time when the country imports between 700 and 1,000 tonnes of gold annually to meet domestic demand.

Spread across nearly 598 hectares with investments exceeding INR 400 crore, Jonnagiri is expected to produce up to 1,000 kg of refined gold annually at peak capacity and has an estimated mine life of around 15 years. Current certified gold resources stand at approximately 13.1 tonnes, with exploration indicating the potential for larger resources across the broader mineralized belt.

Speaking on the occasion, Prabhakaran 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 continued, “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 inauguration comes at a time when gold prices are at historic highs and market volatility remains elevated. In such an environment, the development of a domestic source of gold is not only commercially significant but also strategically important for India.

Jonnagiri Gold Mine marks an important step towards reducing India’s dependence on imported gold and strengthening domestic production. The project is expected to generate employment, support local businesses, and contribute to the regional economy through investment, royalties, and taxes.

The mine is also expected to encourage further exploration and investment in India’s gold sector. With additional exploration underway across the region, Andhra Pradesh is well placed to emerge as a leading gold-producing state.

As commercial production begins, Jonnagiri lays the foundation for a stronger domestic gold value chain and supports the vision of bringing ‘Made in India’ gold to both Indian and international markets.

For further information: www.lloyds.in