Deccan Gold Mines’ wholly-owned subsidiary -- Deccan Gold-FZCO and Magnifica Group of Mozambique have incorporated a new company by the name of ‘Deccan Gold Mozambique LDA’ on May 7, 2024 in which DGFZCO holds a 51% stake. Consequently, Deccan Gold Mozambique LDA will be a Step-down Subsidiary of the Company.
The objective of incorporation is to foray into the critical minerals vertical through systematic exploration, development of the multiple critical mineral (Lithium and tantalum) concessions in Mozambique and setting up of processing plants for the production of high grade concentrates from the assets being vended into Deccan Gold Mozambique LDA. Additionally, the company will also trade (sell), internationally, in high grade ores of Lithium and Tantalum.
Deccan Gold Mines (DGML) is the first private sector gold exploration company in India. The company has a large portfolio of exploration prospects in the states of Karnataka, Andhra Pradesh, Kerala and Rajasthan.
