Shares of Deccan Gold Mines Ltd experienced a significant rise of 16%, reaching ₹123 on the Bombay Stock Exchange (BSE) due to positive developments surrounding the Jonnagiri Gold Project, a ₹400 crore initiative in Andhra Pradesh, India. This project, which is a collaboration with Geomysore Services India and Thriveni Earthmovers & Infra, is poised to begin commercial production in the first week of May, marking a pivotal moment for the company. The mine, covering nearly 598 hectares, is expected to yield up to 1,000 kg of gold annually, with certified resources currently at 13.1 tonnes and potential to increase to 42.5 tonnes. The project is crucial as India imports over 800 tonnes of gold each year, making local production vital for reducing dependency on imports. Despite a 10% decline over the past six months, Deccan Gold's shares have gained 24% in the last month and nearly 30% year-to-date in 2026. The company's commitment to responsible mining and contribution to India's critical mineral supply chain was emphasized by Managing Director Hanuma Prasad Modali, who noted the alignment with government goals for self-reliance.