Mumbai: India’s Deccan Gold Mines Ltd expects to start gold production by end-2010 with the new mines policy likely to help the company speed up its exploration activity, a company official said on Wednesday, 19 March.
“There has been a lack of adequate exploration in India because of regulatory issues,” Sandeep Lakhwara, managing director of Deccan Gold, told Reuters in an interview.
“The new policy addresses these concerns and is a confidence building measure.”
India’s cabinet approved a long-delayed mining policy last week that could ease investments by foreign and domestic companies in the mining sector.
The company is targeting 4 tonnes of gold production annually, Lakhwara said.