Gold Mining in India

by Manshu on October 10, 2010

in Economy

Gold Mining in India

Gold mining in India is really quite small and hardly ever gets talked about. For a country that consumes so much gold, it is a pity that there aren’t more gold mines in India.

During 2008-09, the value of gold mining production in India stood at Rs. 312 crores which is 0.99% of the total metallic mineral production in the country at Rs. 31,533.97 crores.

The gold production stood at 2,464 kgs, and decreased by 17% compared to the previous year with Karnataka accounting for 99% of the total production.

I always assumed that the low gold production is due to the fact that we don’t have much gold reserves, so I was a little surprised to read that the Ministry of Mines estimates the total gold ore resources at 390,289,237 tonnes (pdf). However, this number is so high because the actual gold which can be extracted from the ore is very low. It can be as low as 2.5 grams of gold per tonne of gold ore, but I couldn’t find what the estimated number for India’s gold ore deposits is likely to be.

For reference, India holds 557.7 tonnes of gold as reserves.

Gold Mining in India

Gold Mining in India

Gold Mining Companies in India

Deccan Gold Mines Limited: There is only one gold mining company that is listed in the stock exchange in India. This is Deccan Gold Mines Limited, which is listed in the BSE. The company made a loss last year, and since it was established in 2003 that is probably not a surprise as the gestation period in these type of industries is usually long. The company has revenues based on gold exploration, and other income.

In their annual report I found an interesting piece of data where they write that India is estimated to have about 9% of the global gold reserves, and about a century ago there were more than 100 big and small gold mines in the country.  (Source: Annual Report of Deccan Gold Mines (pdf)

Hutti Gold Mines Company Ltd: It is the only company in India that mines gold. It is owned by the Karnataka government and mined about 2.5 tonnes of gold last year, and generated a profit of Rs. 95 crores in 2009-10.

Fund of funds that can give you exposure to global gold mining companies

The original idea for this post came from a comment asking about gold mining companies in India to invest in, but as you can see there aren’t many options for those.

If you’re really interested in getting exposure to gold mining companies then there is a fund of fund called the DSP BlackRock World Gold Fund which can get you exposure in global mining companies. 78.30% of its net assets are exposed to gold, and 10.3% to silver among other asset classes.


There’s hardly any gold mining activity in the country, and consequently there aren’t many companies that are engaged in it that investors can get exposure to. This might change in the future because of the untapped potential and scorching gold prices but until then your options are fairly limited.

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{ 18 comments… read them below or add one }

Elfatih Abdulla January 20, 2011 at 10:19 PM

We are looking for investment company working in gold mining, iam from Sudan and we have many blocks ready for minig


jasbir September 18, 2012 at 2:18 PM

please let me know??


Tom Brown March 24, 2011 at 9:13 AM

India has been culturally linked to gold for millennia, so I agree that there should be more domestic extraction. That being said, gold production is a function of economics, not just politics, and thus production occurs where it makes the most sense. Right now that is largely in China, Canada, Australia and Russia (and also US, Peru and South Africa). It’s simply cheaper to get at those ores and to process them. Shipping gold bars afterwards is a very small price to pay.


Prab Mukherjee June 5, 2011 at 5:32 AM

I have a Gold mine require funding in Australia. I can send details if someone is interested.
Please Email interest.


Venkatesh June 21, 2012 at 1:47 PM

Hi Mr. Prab Mukherjee.
Please give me some more details.



hemchandra October 19, 2011 at 8:25 PM

very good returns in


OMPRAKASH SEVAK August 5, 2012 at 5:24 PM

in mixture of alloy metal ,copper, zink , lead ,tin & mercury in process type of herbal physician & change her property of melting point near silver .

i can prove this procedure in any where ,
so please give me one chance for my experiment.

thanks & regards
Omprakash sevak


snehal patel September 4, 2012 at 12:44 AM

i know about gold mines in 100 km area in i search the gold?it should be biggest gold mine on earth.


Pankaj Saraogi April 12, 2015 at 3:38 PM

We are looking to invest in gold Mines/Gold Tenements in India as well as overseas, if someone has anything that can be invested into, please do get back.
Pankaj Saraogi


Emmanuel Duodu May 27, 2015 at 11:43 PM

My dad has a gold mining company in Ghana West Aftica, with huge concessions that he has sold some to many nationals across the globe especially Chinese. The land is rich in gold. You can call me or emai me if interested . My phone number is +233244030976


inam mansuri October 4, 2015 at 6:06 PM

i want gold slug and any material which contain any percentage of gold please send sample my add inam mansuri old city mohalla chak chungi barailly up 9258524761 india thanks


Emmanuel Duodu May 27, 2015 at 11:55 PM

The land is litigation-free because it is certified by the Minerals and Lands Commission of Ghana, the institution responsible for checking lands for mining. There are huge concessions, each concession measures 255*255 per acre.


Elisha Joshua Kabenla May 29, 2015 at 5:37 PM

We have a land of mining in Ghana west Africa, we want a company for mining in Ghana west Africa, am the chief of the land. The land at Kumasi central part of Ghana the is my contact 00233544034942


Arthur. Boateng September 29, 2015 at 7:54 PM

We have a huge mine in Ghana and we are looking for a partner,
This gold mine is 7.3 kilometres.We do have a 20 years Mining Lease
We want outright purchase or some form of partnership,The Gold
Reserves is proven, and cheaper to produce, alluvial


vijay minz August 1, 2015 at 10:01 AM

I,m having 201acre lands with high quality’s gold ores in India, anyone wants to invest plz contact on this no. +91 07033690075


viajy kumar singh August 29, 2015 at 2:25 PM

dear sir/mam
I have a gold mine in india in somewhere uttar pradesh
. but, yet I can’t sure about to presence of gold because I have not any machine to search about gold.So , pls guide me.


Dileep Natarajan October 3, 2015 at 9:46 PM

Dear Sir/Madam,

We are looking for indian investors for alluvial gold mining project in Australia. Anybody interested pls call me on +91 9920011694.
My Skype is dileep96 and also got whatsapp in my mobile no.
Awaiting interested parties reply asap.

Thanks & Regards
Dileep Natarajan


Arun Kumar Bhattacharya November 18, 2015 at 9:23 PM

I are looking for Investment Company working in REE /& Gold mining. I am from India now residing in Dubai, U.A.E. And I have a PL (64 Sq. Km) in Tanzania, Africa, ready for mining operation.

Please let me know??


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