New Delhi | India's first large private gold mine in Andhra Pradesh is likely to start its full-scale production very soon, a top official of Deccan Gold Mines Ltd said on Thursday.

The development assumes significance as India currently imports around 1,000 tonnes of gold every year. The country is the largest importer of gold after oil.

Deccan Gold Mines Ltd (DGML), the first and only gold exploration company listed on BSE, has a stake in Geomysore Services India Ltd, which is developing the first private sector gold mine at Jonnagiri, in Andhra Pradesh.

The Jonnagiri gold project, he said, has received environment clearance in the months of June and July, and state clearances have also been sought.

"The project stabilisation is going on... it is only the technology of the plant which is being worked out... full-scale production will begin very soon," Deccan Gold Mines Ltd Managing Director Hanuma Prasad said on the sidelines of CII India Mining Summit 2025.

The project is expected to produce about 750 kilograms of gold per annum once it begins full-scale production, he said, adding that it would be scaled up to 1,000 tonnes within two to three years.

"India's production of gold as of today is 1.5 tonnes... once our mine starts, nearly one more tonne will be added," he explained.

The gold mine is located near Jonnagiri, Erragudi and Pagadirayi villages within the Tuggali Mandalam in the Kurnool district of Andhra Pradesh.

DGML was established in 2003 by promoters with deep roots in the exploration and mining sector. DGML has been involved in gold exploration activities in India and overseas.

The company has mining assets spread across the Indian peninsula, Kyrgyzstan, Finland and Tanzania.