SYNOPSIS:
Deccan Gold Mines announced progress on its Altyn Tor Project in Kyrgyzstan, set to begin production soon. The project marks India’s first overseas gold mining venture, boosting India–Kyrgyzstan ties and mineral security.
The shares of a Small-cap company, specializing in gold exploration and mining, including extraction, processing, and sale of precious metals, jumped by upto 9 percent following the strong update on the mining Collaboration with Kyrgyzstan through Deccan Gold’s Altyn Tor Project.
With a market capitalization of Rs. 2,250.73 crores on Tuesday, the shares of Deccan Gold Mines Ltd jumped upto 8.5 percent, making a high of Rs. 144.70 per share compared to its previous closing price of Rs. 133.30 per share.
What Happened
Deccan Gold Mines Ltd, engaged in gold exploration and mining, including extraction, processing, and sale of precious metals, and India’s first listed gold and critical minerals explorer, announced that its Managing Director, Dr. Hanuma Prasad Modali, met with the Kyrgyz Ambassador to India, H.E. Mr. Askar Beshimov, in Chennai.
The meeting highlighted the growing economic and diplomatic partnership between India and Kyrgyzstan, centered around Deccan Gold’s Altyn Tor Gold Project in Kyrgyzstan, which is set to start production later this year.
This project is the first overseas mining investment by an Indian company in Kyrgyzstan and symbolizes strong collaboration between the two countries. It also supports Deccan Gold’s goal to become a global mining leader and aligns with India’s Atmanirbhar Bharat initiative to secure critical minerals.
H.E. Mr. Askar Beshimov, Ambassador of the Kyrgyz Republic to India, said: “India is a valued partner for Kyrgyzstan, and we welcome Deccan Gold’s investment in our country. The Altyn Tor project is a testament to the opportunities that exist for cooperation in mining, critical minerals, and broader economic engagement. We see this as a foundation for strengthening our bilateral relations in ways that are sustainable, forward-looking, and mutually beneficial.”
Strengthening India–Kyrgyzstan partnership
The meeting reflects the growing alignment between India and Kyrgyzstan in trade, investment, and resource development. Mining and critical minerals are priority sectors that can help both countries strengthen supply chains, reduce import dependence, and foster innovation. Deccan Gold’s investment in Kyrgyzstan showcases how cross-border partnerships can support India’s long-term resource security while contributing to Kyrgyzstan’s economic progress.
Financial & Others
The company’s revenue fell from Rs. 3 crore to Rs. 30 Lakhs in Q1FY25-26. Meanwhile, Net profit declined from Rs. 38 crores to a loss of Rs. 28 crores during the same period.
Deccan Gold Mines Limited is India’s first and only listed gold exploration company. Established in 2003, Deccan Gold holds a strategic portfolio of gold and mineral exploration assets across India and internationally, including projects in Andhra Pradesh, Karnataka, Mozambique, Kyrgyzstan, and Finland. The company is committed to unlocking India’s mineral potential through sustainable and transparent development practices and empowering the communities it works with.
Written by Sridhar J
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