Deccan Gold Mines Secures 1,000 sq km of Mineral-Rich Tenements in Mozambique, Expanding Critical Minerals Portfolio.
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Deccan Gold Mines has secured exploration rights over approximately 1,000 square kilometres of tenements in Mozambique's Tete Province, prospective for copper, gold, nickel, and platinum group elements (PGEs). The company established a new step-down subsidiary called Deccan Mineracao Mozambique LDA (DMMOZ), held 90% by its Dubai-based arm Deccan Gold FZCO. This builds on its May 2024 entry into Mozambique for lithium, tantalum, and rare earth elements, making it the first BSE-listed company to operate in Mozambique for critical mineral supply. Next steps include setting up a base in Tete and carrying out initial exploration work such as geophysics, soil sampling, and drilling.
Positive long-term development as the company broadens its critical minerals portfolio beyond gold into copper and PGEs, but this is an early-stage exploration move with no immediate revenue impact. Shareholders should expect exploration updates over the coming months rather than near-term earnings effect.