Deccan Gold Mines’ (DGML) arm Deccan Exploration services (DESPL) has received the formal communication from Ministry of Mines, Government of India (MoM) with regard to approval of DESPL’s mining lease application over an area of 72 acres for 50 years for the Ganajur Gold Mine Project in the State of Karnataka. The file will now be sent to the state Government of Karnataka for issue of a Letter of Intent (LOI) that would specify standard terms and conditions for the final grant order and execution of the mining lease.
The Mining License approved by the MOM which will facilitate the LOI by the state Government of Karnataka is an important milestone in DESPL’s journey towards achieving its objective of becoming a significant gold producer in India.
Deccan Gold Mines has been actively engaged in the exploration for gold in some of the most promising gold mineralized blocks in India. It has been successful in identifying several smaller potential gold-bearing zones within these blocks, worthy of detailed investigation.
| Company Name | CMP |
|---|---|
| Coal India | 438.70 |
| NMDC | 89.78 |
| GMDC | 733.40 |
| Sandur Manganese | 218.35 |
| MOIL | 327.60 |
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