Deccan Gold expects gold production by end-2010

MNB

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.

“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 tons of gold production annually, Lakhwara said. (allAfrica)

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