Deccan Gold Mines has expanded its international exploration footprint with a strategic investment in Spain, targeting a project that offers exposure to tungsten, gold and other critical minerals.
The transaction marks a significant step in the company's efforts to diversify its resource portfolio beyond India.
The company has entered into agreements that will allow it to acquire an initial 51% stake in Logrosan Minera S.L., the owner of the Logrosan Tungsten Project in Spain.
The investment commitment stands at €1.76 million and is expected to be completed by March 2027.
Beyond the initial acquisition, Deccan Gold has secured the option to increase its ownership to 75% through an additional investment of €1 million.
Depending on future project funding requirements and ownership dilution mechanisms, the company's stake could eventually rise to as much as 95%.
The funds will be used to advance exploration, resource development and expansion activities across the project portfolio.
The Logrosan project currently spans 37 square kilometres, while an additional 30 square kilometres has been applied for, potentially expanding the exploration footprint substantially.
The area hosts multiple mineral targets including tungsten, tin, rare earth elements, niobium-tantalum, gold and phosphorous.
Exploration work undertaken so far has included magnetic surveys, extensive soil sampling and drilling programmes aimed at identifying and expanding mineralised zones.
Recent drilling returned tungsten intersections including 3 metres grading 0.42% WO₃, 2.7 metres grading 0.29% WO₃ and 9 metres grading 0.32% WO₃.
According to the company, ongoing drilling is focused on extending known mineralisation, with the Dehesa prospect showing encouraging potential.
The transaction also gives Deccan Gold exposure to the Maria Gold Project, a 40-square-kilometre licence area located within the broader Logrosan mineral belt.
Exploration studies have identified gold anomalies through stream sediment sampling and reconnaissance activities.
The project is considered prospective for both gold and antimony mineralisation, providing an additional avenue for future resource growth.
As of 10 June 2026, at 9:38 AM, Deccan Gold Mines Ltd share price is trading at ₹168.78 per share, reflecting a surge of 1.22% from the previous closing price.
The Spain transaction provides Deccan Gold with access to a promising tungsten project at a time when global industries are seeking diversified sources of critical minerals. Combined with the Maria Gold Project and a pathway to majority ownership, the investment broadens the company's international presence and strengthens its long-term growth pipeline.
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Published on: Jun 10, 2026, 11:07 AM IST
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