Gold Mine: Gold from Indian soil—Jonnagiri mine's first gold biscuit enters the market; what is the price?

Jonnagiri Gold Mine: The first 24-carat gold biscuit produced at Andhra Pradesh's Jonnagiri Gold Mine has now hit the market. These biscuits are being sold in weights of 50 grams, 100 grams, and 500 grams. Find out how much they cost.

Jonnagiri Gold Mine: Until now, most of the gold sold in India was imported from abroad, but the picture appears to be changing. The first 24-carat gold biscuit from Andhra Pradesh's Jonnagiri (Swarnagiri) Gold Mine has arrived in the market for sale. It was recently launched by Chief Minister N. Chandrababu Naidu. This move is considered a major success in boosting domestic gold production in India.

Where are the biscuits available?

For now, the gold biscuits produced at the Jonnagiri Gold Mine are available at select jewelry shops in the Venkatachalapathi Bullion Market in Kurnool city, Andhra Pradesh. They have seen strong demand immediately upon entering the market, with many smaller-sized gold biscuits selling out in the initial days.

What is the price?

These gold biscuits have been launched in three sizes: 50 grams, 100 grams, and 500 grams. Among them, the largest—the 500-gram, 24-carat (999 purity) gold biscuit—is garnering the most attention. Its price is currently reported to be over ₹75 lakh, based on prevailing market rates. Gold biscuits of other weights are also available at market rates.

What is special about these gold biscuits?

These gold biscuits symbolize the beginning of a new era of gold mining in India. This is 24-carat—or 99.9% pure—gold; the bars bear the "Jonnagiri Gold Mine" marking, and the 500-gram bars also feature an embossed map of Andhra Pradesh. A notable feature is that the gold has been entirely mined and processed on Indian soil.

What makes the Jonnagiri Gold Mine special?

The Jonnagiri Gold Mine is considered one of India's largest private-sector gold mining projects. Initially, the project will produce hundreds of kilograms of gold annually, with plans to scale up production to approximately 900 kilograms per year. This could help reduce the country's reliance on gold imports.

Will Indian gold be cheaper?

Although the gold is being mined in India, it is currently subject to the same taxes and GST applicable to other gold products. Therefore, customers should not expect any significant price relief at this stage.