{"id":61072,"date":"2024-05-18T20:53:58","date_gmt":"2024-05-18T20:53:58","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/indias-deccan-gold-mines-acquires-majority-stake-in-5-lithium-blocks-in-mozambique"},"modified":"2024-05-18T20:59:30","modified_gmt":"2024-05-18T20:59:30","slug":"indias-deccan-gold-mines-acquires-majority-stake-in-5-lithium-blocks-in-mozambique","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/indias-deccan-gold-mines-acquires-majority-stake-in-5-lithium-blocks-in-mozambique","title":{"rendered":"India\u2019s Deccan Gold Mines acquires majority stake in 5 lithium blocks in Mozambique"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Deccan Gold Mines Ltd (DGML), India\u2019s only listed gold exploration and mining company, on Tuesday said it has acquired majority stake in five lithium blocks in Mozambique.<\/p>\n

This positions DGML within Alto Ligonha pegmatite belt, globally known for its rich deposits of lithium-cesium-tantalum (LCT) pegmatites, important for extraction of lithium, tantalum, and beryllium.<\/p>\n

The critical minerals concession blocks were acquired through DGML\u2019s wholly-owned arm Deccan Gold FZCO (DGFZCO- DGML\u2019s Dubai arm)), in the UAE.<\/p>\n

\u201dIn a strategic collaboration…(DGFZCO) has forged a joint venture with the Magnifica Group of Mozambique, leveraging on its ownership of multiple concessions within the region,\u201d the company said in a statement.<\/b><\/p>\n

DGFZCO and Magnifica had incorporated Deccan Gold Mozambique LDA (DGMOZ) this month.<\/p>\n

DGFZCO will hold majority ownership stake of 51 per cent in DGMOZ, with a potential to increase its ownership to 70 per cent in the near future.<\/p>\n

ALSO READ: Lithium Consolidated announce new Mozambique lithium licenses in Alto Ligonha, Zambe\u0301zia<\/b><\/p>\n

Going forward, DGMOZ plans to establish a small-scale processing plant with a capacity of 100 tonne per day to refine lithium, tantalum, and other mineral concentrates.<\/p>\n

\u201dThe JV with Magnifica Group, shall unleash synergies in upstream capabilities and eventually also midstream that will cater to a burgeoning Indian market,\u201d Hanuma Modali, Managing Director, Deccan Gold Mines said.<\/p>\n

\u201cDGFZCO (DGML\u2019s Dubai arm) is committed to investing approximately USD 10 million over the next three years into DGMOZ to bolster exploration, operations and infrastructure across the acquired concessions. DGFZCO plans to raise the requisite capital through strategic initiatives in the United Arab Emirates,\u201d.reads the \u201cUpdate on foray into critical minerals vertical in Mozambique through Deccan Gold Mozambique LDA (step-down subsidiary)\u201d,<\/b> published ton May 12 by Deccan Gold Mines Limited.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Deccan Gold Mines Ltd (DGML), India\u2019s only listed gold exploration and mining company, on Tuesday said it has acquired majority stake in five lithium blocks in Mozambique. This positions DGML within Alto Ligonha pegmatite belt, globally known for its rich deposits of lithium-cesium-tantalum (LCT) pegmatites, important for extraction of lithium, tantalum, and […]<\/p>\n","protected":false},"author":84,"featured_media":61071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-61072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nIndia\u2019s Deccan Gold Mines acquires majority stake in 5 lithium blocks in Mozambique - Mozambique<\/title>\n<meta name=\"description\" content=\"Deccan Gold Mines Ltd (DGML), India\u2019s only listed gold exploration and mining company, on Tuesday said it has acquired m ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/indias-deccan-gold-mines-acquires-majority-stake-in-5-lithium-blocks-in-mozambique\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India\u2019s Deccan Gold Mines acquires majority stake in 5 lithium blocks in Mozambique\" \/>\n<meta property=\"og:description\" content=\"Deccan Gold Mines Ltd (DGML), India\u2019s only listed gold exploration and mining company, on Tuesday said it has acquired m ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/indias-deccan-gold-mines-acquires-majority-stake-in-5-lithium-blocks-in-mozambique\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-18T20:53:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-18T20:59:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2024\/05\/sm_1716049742.488741.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"545\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/indias-deccan-gold-mines-acquires-majority-stake-in-5-lithium-blocks-in-mozambique#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/indias-deccan-gold-mines-acquires-majority-stake-in-5-lithium-blocks-in-mozambique\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"India\u2019s Deccan Gold Mines acquires majority stake in 5 lithium blocks in Mozambique\",\"datePublished\":\"2024-05-18T20:53:58+00:00\",\"dateModified\":\"2024-05-18T20:59:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/indias-deccan-gold-mines-acquires-majority-stake-in-5-lithium-blocks-in-mozambique\"},\"wordCount\":311,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/indias-deccan-gold-mines-acquires-majority-stake-in-5-lithium-blocks-in-mozambique#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2024\/05\/sm_1716049742.488741.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/indias-deccan-gold-mines-acquires-majority-stake-in-5-lithium-blocks-in-mozambique#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/indias-deccan-gold-mines-acquires-majority-stake-in-5-lithium-blocks-in-mozambique\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/indias-deccan-gold-mines-acquires-majority-stake-in-5-lithium-blocks-in-mozambique\",\"name\":\"India\u2019s Deccan Gold Mines acquires majority stake in 5 lithium blocks in Mozambique - 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