DBT Bureau
Pune, 23 Dec 2025
Deccan Gold Mines Limited, in an exchange filing, said that the Company proposes to invest in a tungsten project located in Spain, in which it may acquire up to a 75% interest prior to production. The Logrosán project is at an early stage of exploration but offers the potential to convert the discovered mineralisation into Mineral Resources within the next one to two years.
The Logrosan project lies within a highly mineralised region of Spain known for tungsten, tin, rare earth elements, and gold occurrences.
Early exploration and limited drilling results have shown encouraging tungsten mineralisation, including intersections such as 3m @ 0.42% WO₃ and 8m @ 0.32% WO₃, and isolated high-grade gold results such as 1m @ 96.2 g/t gold.
Spain has long been recognised as a favourable mining destination due to
- Rich mineral endowment in critical minerals.
- Supportive permitting and ownership structure.
- Competitive operating costs.
- Proximity to European industrial markets.
- Absence of production-based royalties.
Tungsten is a globally recognised critical mineral due to its strategic use in defence, aerospace, hightemperature alloys, industrial cutting tools, and electronics. Global supply continues to be constrained, with China accounting for over 80% of worldwide production, increasing the relevance of non-China sources.
Deccan Gold’s technical experience in gold exploration, drilling and resource evaluation is directly transferable to tungsten deposits, given similarities in geological exploration and mineralisation models.
The Company also notes potential upside in associated gold and REE targets, and ongoing regional exploration including the nearby Maria Gold Project.
Hanuma Prasad Modali, Managing Director, Deccan Gold Mines Ltd., said: “Our evaluation of the Logrosan Tungsten Project reflects Deccan Gold’s broader vision of expanding India’s presence in strategically important minerals that power tomorrow’s industries. Tungsten is a globally critical resource, and Spain offers a mining environment backed by geology, infrastructure, and proximity to European demand. Our experience in gold exploration positions us to assess and develop tungsten systems with confidence and technical depth.”
“As India accelerates its critical minerals strategy, Deccan Gold is methodically exploring opportunities that strengthen our global footprint, reduce supplychain vulnerabilities, and enable India to participate meaningfully in materials that are vital for advanced manufacturing, defence, and sustainability”, adds Hanuma.
Deccan Gold Mines Limited closed at ₹88.65 on December 22, registering a gain of ₹1.70 from the previous session.
Disclaimer: This information is for educational purposes only. Please consult your financial advisor before investing in stocks.
