Deccan Gold Mines shares zoom 14% after Jonnagiri gold project receives consent to operate
Deccan Gold Mines shares: In a regulatory filing, Deccan Gold Mines announced that Geomysore has received approval to begin operations at the Jonnagiri project—a key milestone following prior environmental clearances and public consultations.
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Shares of Deccan Gold Mines surged 14.3% intraday on Thursday to hit a day's high of Rs 170.50 after the company announced that its associate firm, Geomysore Services (India), has received the Consent to Operate (CTO) from the Andhra Pradesh Pollution Control Board (APPCB) for its Jonnagiri Gold Project In a regulatory filing, Deccan Gold Mines stated that it has been informed by Geomysore about the approval, which marks a significant milestone in the development of the Jonnagiri project. The CTO allows Geomysore to initiate the operation phase of the gold project, following earlier environmental approvals and public consultations.The CTO approval comes after the successful grant of Environmental Clearance by the Expert Appraisal Committee (EAC) of the Ministry of Environment, Forest and Climate Change (MoEFCC) during its meeting held on March 25, 2025.The clearance pertains to the gold ore processing plant component of the project, and its official confirmation was published on the Ministry's portal on April 18, 2025.Providing context to the development, a public consultation process for the project was conducted earlier in February, in Jonnagiri, Andhra Pradesh. Following this, Geomysore applied for the environmental clearance from the MoEFCC in line with the regulatory process.Upon obtaining the clearance, the firm subsequently applied for the CTO from APPCB in April 2025, completing the final step required before the commencement of gold production.The Jonnagiri project is among the first privately held gold mining initiatives in India to reach this advanced stage of regulatory approval. The company stated that it will continue to keep shareholders informed about future developments.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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