Andhra Pradesh’s future is all about gold – Jonnagiri (Kurnool) gold mining project to be launched by the Chief Minister tomorrow – Initially, 400 kilograms of gold will be produced – Production up to 2 tons annually – Employment for 700 people.
June 23rd, Bharat News NATIONAL
(Five-Star Rated News Service by Google)
AMARAVATI – Raja Pentapati- Bureau Chief
Chief Minister N Chandrababu Naidu will inaugurate the gold mining project in Jonnagiri, Tuggali mandal of Kurnool district tomorrow (Wednesday). As part of the expansion plans of the project, he will also lay the foundation stone for the second unit.
Geo Mysore Services India Private Limited and Deccan Gold Mines Limited have set up this gold mining and refining project with an investment of Rs. 405 crore. Trial runs at the mine and refining centers have already been completed. The inauguration by the Chief Minister will formally begin commercial production of gold.
It is worth noting that the history of gold mining in India is closely linked to the Kolar Gold Fields (KGF) in Karnataka. Now, with the country’s largest private sector gold mining project being set up in Kurnool district of Andhra Pradesh, the district is all set to carve out a special place for itself in the country’s gold map.
The government has allotted 1,500 acres for the Jonnagiri Gold Fields project, and mining operations will begin on 600 acres in the first phase.
The necessary processing plants have already been set up and the project will be expanded to the rest of the area in the second phase. The plant is expected to produce 400 kilograms of gold in the first year of its operation, increasing to 900 kilograms from the next year, and gradually producing up to 2 tonnes of gold annually as processing capacity increases. The project is expected to provide employment to around 700 people.
The state government will get a royalty of 4 per cent on the value of the gold produced. As per current estimates, the government will earn around Rs. 57 crore on production of 400 kilograms and around Rs. 100 crore on production of 900 kilograms. 144 crores is likely to be received as royalty.
As per the schedule, the Chief Minister will reach Jonnagiri at 11:45 am and inaugurate the first unit of the gold refinery. At 12:20 pm, he will lay the foundation stone for the second unit of the Geo Mysore plant. Later, the Chief Minister will address a public meeting in Jonnagiri at 3:00 pm. Later, he will meet TDP leaders and party workers from the Pattikonda assembly constituency.
Swacha Andhra Pradesh
