Deccan Gold Mines (DGML), India’s only exploration and mining company, has announced strategic advances in the country, strengthening its operations in the critical minerals sector. The company has acquired a majority stake in six mineral assets and plans to invest between 10 and 15 million dollars over the next few years to develop operations in Mozambique.
According to Business Upturn on Wednesday (5), through its subsidiary Deccan Gold FZCO (DGFZCO), DGML has secured a 51 per cent stake in Deccan Gold Mozambique Ltda (DGMOZ), with the possibility of increasing it to 70 per cent, thus becoming the first company listed on the Bombay Stock Exchange (BSE) – India’s stock exchange – to operate in the country’s critical minerals sector.
Mozambique, known for its reserves of lithium, tantalum, graphite, gold, rare earth elements and precious stones, has become a strategic focus for Deccan Gold. The company’s operations are aligned with the Government of India’s ‘Critical Mineral Mission’, which aims to ensure a stable supply chain for Indian industry.
DGMOZ has already assured that it is about to acquire six mining licences in the provinces of Zambézia and Tete, in the central part of the country, concentrating mainly on the mineral district of Alto Ligonha (Zambézia), a region rich in LCT (lithium-cesium-tantalum) pegmatites.
The company’s managing director, Hanuma Prasad Modali, has outlined a structured plan for operations in Mozambique, consisting of resource exploration and development (mapping and drilling to assess the extent of mineral deposits); early revenue generation (starting direct export of lithium-bearing lepidolite ores to establish supply routes); and the processing facility (construction of a modular pilot unit for ore analysis, followed by the implementation of a large-scale processing facility with a capacity of over two thousand tonnes per day).
Investment and impact on development
Deccan Gold intends to export mineral concentrates through the Port of Nacala, taking advantage of the country’s logistics infrastructure. In addition, the company is working with the Mozambican Chamber of Mines (CMM) and local communities to ensure sustainable exploitation and contribute to the economic development of the national territory.
‘We are proud to be the first BSE-listed company to operate in Mozambique’s critical minerals sector,’ said Hanuma Prasad Modali. ‘This investment will help guarantee the supply of essential minerals to India, while at the same time boosting the Mozambican economy.’
The company plans to start drilling operations in the coming months, with further updates on exploration progress expected in the second half of 2025.
