Listed mineral exploration company Deccan Gold Mine's shares ended sharply higher by nearly 6 percent on September 30 after the company said it is on track to commence production from a mine in Kyrgyzstan starting next month.
A company filing said the managing director met the Kyrgyz Republic's Ambassador to India in Chennai, and 'reaffirmed' the deepening economic partnership between both nations. Deccan Gold has a collaboration that has invested in the 'Altyn Tor' gold project in Kyrgyzstan, marked as 'first overseas mining investment' by an Indian company in the country. The gold miner said the projects is helping in its ambition to be a global mining player while advancing India’s Atmanirbhar vision in critical mineral resources.
Partnership with Kyrgyzstan
"The Altyn Tor project represents more than a milestone for Deccan Gold - it reflects India’s ability to shape the future of global mining while deepening our partnership with Kyrgyzstan," Hanuma Prasad Modali, Managing Director, Deccan Gold Mines said. The company added that it aims to develop a 'modern, inclusive resource economy' for both nations.
Askar Beshimov, the Ambassador of the Kyrgyz Republic to India said, "India is a valued partner for Kyrgyzstan, and we welcome Deccan Gold’s’ investment in our country."
About Altyn Tor
The Altyn Tor project has explored cooperation in mining and critical minerals between both nations, and has served as the "foundation for strengthening bilateral relations", Ambassador Beshimov added.
The Altyn Tor deposits, located in the mineral-rich Soltan Sary zone of Kyrgyzstan, host an estimated 4.65 million tonnes of rock containing an average of 1.21 grams of gold per tonne, yielding an estimated 180,000 troy ounces of gold. Deccan Gold is developing the project into a mining operation and is expected to commence production from October 2025. Deccan Gold has strategic gold and mineral exploration assets in Andhra Pradesh, Karnataka, Mozambique, Kyrgyzstan, and Finland.
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