Deccan Gold Moves Toward Production As Geomysore Posts Profit

18 May 2026 CW Team

Geomysore’s profitability and ramp-up toward peak capacity were cited as key milestones supporting Deccan Gold’s long-term growth. The year also saw production-linked activities begin at the Jonnagiri Gold Project in Andhra Pradesh, one of the first modern private sector gold mining projects in India since Independence.

Internationally, work advanced at the Altyn Tor Gold Project in Kyrgyzstan through subsidiary Avelum, with Rs 325.3 mn deployed during the quarter as the project moved closer to commercial operations targeted from August 2026. The gravity plant was commissioned and the first-phase leaching circuit is expected to commence dore bar production shortly; semi-processed gold inventory has been generated onsite. The company said full-scale production would materially improve consolidated performance.

Following a rights issue of Rs 3.147 bn, the group repaid loans of Rs 2.1157 bn in Q4, strengthening the balance sheet. Deccan Gold increased its stake in Geomysore to 26 per cent, taking the carrying value of the investment to Rs 1.9054 bn as of March 31, 2026. Exploration continued at the Bhalukona Nickel-Copper-PGE licence in Chhattisgarh with mapping and geophysical surveys while drilling approvals are pursued.

Backed by a strengthened balance sheet and an international portfolio across India, Kyrgyzstan, Finland, UAE, Tanzania, Spain and Mozambique, the company set an outlook focused on disciplined execution, responsible growth and building a competitive mining platform. Management highlighted resource security and rising interest in critical minerals as drivers of long-term capital allocation.

Deccan Gold Mines Limited reported a standalone loss of Rs 131.8 million (mn) and a consolidated loss of Rs 731.7 mn for FY26, driven by investments and ramp-up costs in Kyrgyzstan subsidiary Avelum Partners LLC which recorded a loss of Rs 378.0 mn. Associate Geomysore Services India Pvt Ltd generated gold sales and reported a profit of Rs 288.1 mn, with Deccan Gold’s share at Rs 74.9 mn. The results mark the company’s shift from exploration toward production-linked value creation. Geomysore’s profitability and ramp-up toward peak capacity were cited as key milestones supporting Deccan Gold’s long-term growth. The year also saw production-linked activities begin at the Jonnagiri Gold Project in Andhra Pradesh, one of the first modern private sector gold mining projects in India since Independence. Internationally, work advanced at the Altyn Tor Gold Project in Kyrgyzstan through subsidiary Avelum, with Rs 325.3 mn deployed during the quarter as the project moved closer to commercial operations targeted from August 2026. The gravity plant was commissioned and the first-phase leaching circuit is expected to commence dore bar production shortly; semi-processed gold inventory has been generated onsite. The company said full-scale production would materially improve consolidated performance. Following a rights issue of Rs 3.147 bn, the group repaid loans of Rs 2.1157 bn in Q4, strengthening the balance sheet. Deccan Gold increased its stake in Geomysore to 26 per cent, taking the carrying value of the investment to Rs 1.9054 bn as of March 31, 2026. Exploration continued at the Bhalukona Nickel-Copper-PGE licence in Chhattisgarh with mapping and geophysical surveys while drilling approvals are pursued. Backed by a strengthened balance sheet and an international portfolio across India, Kyrgyzstan, Finland, UAE, Tanzania, Spain and Mozambique, the company set an outlook focused on disciplined execution, responsible growth and building a competitive mining platform. Management highlighted resource security and rising interest in critical minerals as drivers of long-term capital allocation.

Infrastructure Urban

15 Jun 2026

Modi Launches Rs 29,700 Mn Development Push In Daman

Prime Minister Narendra Modi inaugurated, dedicated and laid foundation stones for development projects worth around Rs 29,700 mn in Daman during a visit that formed the second leg of his regional engagements on June five, 2026. The package covers healthcare, civil aviation, tourism, connectivity, infrastructure and public welfare and was presented by the Prime Minister's Office as part of efforts to strengthen public services and regional economies. The announcements followed earlier engagements in Surat, where projects worth around Rs 188,000 million were launched. A key inauguration was the..

Infrastructure Energy

15 Jun 2026

Rajasthan Sees Rs 150 bn Investment Momentum

Rajasthan has recorded Rs 150 billion (bn) in realised investments in its mining and petroleum sectors, with projects worth Rs 330 bn under execution, according to the state administration. The report indicated that the surge is driven by major industrial and infrastructure schemes that have reached advanced stages. Officials noted that prominent projects have already moved to operations or are approaching completion, reinforcing the state as an attractive destination for large-scale investment. Among the headline projects, UltraTech Cement has commissioned a plant valued at Rs 22.3 bn while H..

Infrastructure Urban

15 Jun 2026

Vedanta Readies 5.2 Billion Refinancing After Upgrades

Vedanta is preparing a refinancing package totalling 5.2 billion dollars (bn) after recent credit rating upgrades, and has engaged financial advisers and banks to structure the transaction. The move follows upgrades that have improved access to capital markets and narrowed funding costs, enabling the group to pursue longer-dated financing. The company is targeting the refinancing to replace near-term maturities and to harmonise the debt profile across its diversified mining and metals businesses. The refinancing exercise is structured to include a mix of term loans, bonds and bilateral facilit..