New Launch10 Oct 2025, 09:40 am
Lloyds Enterprises' Investee Geomysore Services India Pvt Ltd Gold Mine Enters Pre-Commercial Phase
AI Summary
Lloyds Enterprises Limited's investee company, Geomysore Services India Pvt Ltd, has commenced Pre-Commercial production trials at the Jonnagiri Process Plant, marking a significant milestone in India's gold mining sector. The mine, located in Andhra Pradesh, is expected to produce up to 900 kilograms of refined gold annually by the end of FY2028. This development comes at a time when gold has emerged as one of the best-performing asset classes for Indian investors, delivering strong absolute returns even amidst global volatility.
Key Highlights
- Lloyds Enterprises' investee company, Geomysore Services India Pvt Ltd, has commenced Pre-Commercial production trials at the Jonnagiri Process Plant
- The mine is located in Andhra Pradesh with all key regulatory approvals, including Environmental Clearance valid until 2043
- The project is expected to produce up to 900 kilograms of refined gold annually, by end of FY2028, supported by a strong resource base for mine life of 15 years
- Gold has delivered a compound annual growth rate (CAGR) of ~24.4% in rupee terms over the past 3 years
- Commercial production is targeted to begin in November 2025