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Deccan Exploration Services Private Ltd, a subsidiary of Deccan Gold Mines , has paid ₹682 crore (inclusive of 10 per cent of processing fee) to Karnataka Industrial Areas Development Board (KIADB).
It was earlier agreed that (for the Ganajur Gold Project) KIADB would be facilitating the land acquisition process on behalf of DESPL and had determined the total acquisition cost of 200 acres of land (which includes the mining lease area of 72 acres) for the proposed mine, processing plant and infrastructure at Ganajur, at ₹17 crore.
The board had advised the company to remit 40 per cent of the tentative cost of land as advance. Shares of BSE-listed Deccan Gold Mines jumped 5.72 per cent at ₹45.30.
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