Deccan Gold Mines Eyes Strategic Tungsten Stake In Spain

Deccan Gold Mines Ltd, India’s only listed gold and critical minerals exploration company, has announced plans to invest in an early-stage tungsten project in Spain. The company aims to secure up to 75% ownership before production begins, marking a significant diversification into critical minerals beyond gold.

Key Highlights

• The Logrosan project in Spain has shown encouraging tungsten mineralisation, including intersections of 3m at 0.42% WO3 and 8m at 0.32% WO3
• High-grade gold results have also been reported, such as 1m at 96.2 g/t gold, enhancing project potential
• Deccan Gold anticipates converting mineralisation into Mineral Resources within one to two years
• Spain offers favorable mining conditions with competitive operating costs, supportive permitting, and proximity to European markets
• Tungsten is a critical mineral for defense, aerospace, and electronics, with global supply heavily concentrated in China, making diversification strategically important

This investment highlights Deccan Gold’s ambition to expand into critical minerals, aligning with global supply chain diversification trends and strengthening India’s footprint in international mining ventures.

Sources: FilingReader, BSE India