To begin production in Karnataka mine soon: Deccan Gold

Gold Exploration Company Deccan Gold Mines in spite of being in operation for the past ten years haven’t been able to extract gold. Citing the reasons for this delay, Managing Director, Sandeep Lakhwara said getting a gold mining licence is a very tedious and a very long process.  However, the company is seventy percent through in its licence process for Ganajur mines in Karnataka. The approvals from Ministry of Mines, Delhi has come through but since the execution will happen in Karnataka we need a letter of intent, which has not yet come, said Lakhwara.The plan is to go into production by last quarter of 2017, or first quarter of 2018 and by that all licences and permits would be in place, he said.He said the company has also applied for two more mining licences apart from Ganajur mines. One of the licences is for a satellite site around the Ganajur’s main deposit. The opportunity to extract gold from these sites is quite high, said Lakhwara. So far they have drilled about 5600 meters in the Ganajur mines, which has been sufficient to generate the required data, he said.Ganajur has an estimated gold deposit of 3,08,000 ounces. The company also has exploration prospects in Andhra Pradesh, Kerala and Rajasthan. For the entire interview, watch video