Exciting Milestone for Deccan Gold-execution of Composite Licence over the Bhalukona-Jamnidih Nickel, Chromium and PGE Block in Chhattisgarh, India
DECNGOLD · price
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Deccan Gold Mines has been granted a 30 sq. km Composite Licence by the Government of Chhattisgarh for the Bhalukona-Jamnidih block, prospective for nickel, chromium, and platinum-group elements (PGE). The licence was executed on April 1, 2025, and registered on April 2, 2025, after the company was earlier selected as the Preferred Bidder. The Composite Licence enables a seamless transition from exploration to mining, and the company has applied for a work permit to begin exploration activities. Geological Survey of India (GSI) preliminary work identified anomalous nickel and PGE values, including a pyroxenite body with high palladium (1174ppb), platinum (241ppb), and nickel (0.16%) readings. The company claims to be the first and only strategic and critical mineral resource company listed on BSE, aligned with India's Atmanirbhar Bharat initiative.
This is a positive milestone that expands Deccan Gold's portfolio into critical minerals (nickel, chromium, PGE) which are strategically important for India. While exploration is still at an early stage with no production or revenue yet, the licence award strengthens the company's growth pipeline and strategic positioning, which could be viewed favorably by shareholders over the medium term.