Deccan Gold Mines Limited has filed a regulatory update under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, informing shareholders of material progress at its flagship Altyn Tor Gold Project located in the Kyrgyz Republic. The disclosure, dated May 10, 2026, outlines key milestones achieved and the projected timeline for commercial operations at the project site.

Plant Commissioning Progress and Operational Milestones

The company reported that work at the Altyn Tor site is progressing at an accelerated pace following significant improvement in weather conditions. The following key developments were highlighted in the update:

The gravity circuit's commissioning marks a critical step in the plant's readiness, enabling concentrate production ahead of the Merril-Crowe circuit becoming operational. The Merril-Crowe circuit, once commissioned, will facilitate the production of Dore Bar from the gravity concentrates. The company has also commenced planning for an inauguration event in August 2026, a date that coincides with the Independence Days of both India and Kyrgyzstan.

Management Commentary

Deccan Gold Mines Managing Director, Dr. Hanuma Prasad Modali, commented on the progress, stating: "The steadily improving weather conditions at site have allowed our team to ramp up construction at the site. We are particularly pleased with the successful commissioning of the gravity circuit and expectation of producing gold concentrate ahead of commissioning the Merril-Crowe system in June. As the first Indian mining company in Kyrgyzstan, we remain focused on responsible growth, operational excellence, and building a model for cross-border collaboration that benefits both nations and look forward to the inauguration in August, a month where both India and Kyrgyzstan celebrate their Independence Days."

About the Altyn Tor Gold Project

The Altyn Tor Gold Project is developed and operated by Avelum Partners, in which Deccan Gold Mines holds an investment. This marks the first investment by an Indian mining and exploration company in the Kyrgyz Republic and is positioned to strengthen economic ties between the two countries. The Altyn Tor deposit is situated within the highly mineralized Soltan Sary gold mineralization zone, which extends over 300 km in length and forms part of the major Tien Shen Shear Zone. Gold mineralization at the deposit is hosted in quartz, quartz-carbonate veins, and stockworks.

Company Background

Deccan Gold Mines remains the first and only gold and critical mineral resource company listed on the Bombay Stock Exchange Limited. The company's stated vision is to be India's leading gold and critical minerals producer, with a focus on ethical, responsible, and sustainable mining practices.

Deccan Gold Mines is set to make history as India's first private gold mining project prepares for launch in Andhra Pradesh. The company has announced that operations at its gold mining facility are scheduled to commence in May, marking a significant milestone in the Indian mining industry.

Project Overview

The upcoming launch represents a groundbreaking development in India's mining sector, as it will be the country's first privately operated gold mining project. Located in Andhra Pradesh, this initiative signals the entry of private enterprise into gold mining operations, which have traditionally been dominated by public sector undertakings.

Timeline and Operations

According to the announcement, the gold mining project is expected to go live in May. This timeline positions the company to begin contributing to India's domestic gold production capabilities in the coming months.

Industry Significance

The launch of this private gold mining project marks a notable shift in India's mining landscape. As the first of its kind, the project could potentially pave the way for increased private sector participation in the country's gold mining industry. The development comes at a time when India continues to be one of the world's largest gold consumers, making domestic production capabilities increasingly important for the economy.