Deccan Gold Mines Limited (DGML) is the first private sector gold exploration company in India to be listed on the Mumbai Stock Exchange. Established as a gold exploration company in 2003, DGML now has a large portfolio of exploration prospects in the states of Karnataka, Andhra Pradesh, Kerala and Rajasthan. Details of the portfolio are contained in the section titled “Status of Applications”.

 

It has actively undertaken Reconnaissance exploration work in all of its exploration prospects in the last three years and has been successful in identifying probable gold resources within prospects located at Hirenagnur, Ganajur and Attapadi. Full details are contained in the “Projects” section of this website. It is now awaiting the grant of the next stage of licences to undertake detailed feasibility studies on the mining potential of the gold resources identified through the first phase of its exploration activities. Promoted by shareholders with deep roots in the exploration and mining sector, it brings to India a wealth of international technical know how and experience in the gold exploration and mining sector. 

 

India is a country rich in mineral resources. A major portion of the country is composed of Precambrian rocks which have hosted major gold discoveries worldwide. There were over a hundred gold mining centres in the early part of last century. The mines were located in parts of Kolar, Hutti, Gadag, Chitradurga & Shimoga in Karnataka, Wynad and Nilambur in Kerala, Kotagiri and Dharmapuri in Tamil Nadu, Ramagiri and Jonnagiri in Andhra Pradesh, Sonadehi in Chattisgarh, Parsori and Pular in Maharashtra, Kunderkocha and Sonapet in Jharkand. The mines then produced a large quantum of gold. 

 

Today India’s annual primary gold mine output is only between 2 and 3 tonnes. The land of the world famous Kolar Gold Fields and the largest consumer of gold on earth, India has  suffered in developing its gold mining potential due to lack of adequate exploration expenditure, the nationalistic policies of the previous governments and a non investor friendly mineral policy.

 

The new India, with a strong economic growth outlook, is looking to revive the mineral exploration and mining sector through foreign and Indian private investment and the planned introduction of liberalised internationally compatible mining policies. DGML with some of the best gold prospects in the country, geologically similar to areas that have been home to major world gold discoveries, is playing a leading role in this revival.