Deccan Gold Mines Ltd. (Deccan Gold), India’s first and only listed gold and critical minerals exploration and mining company, announced a strategic investment in a tungsten exploration project at Logrosan, Spain. Under the agreement, the company has the option to increase its stake to up to 75% prior to production, strengthening its long-term participation in the project.
This move marks an important step in Deccan Gold’s strategy to build a globally diversified portfolio of critical minerals alongside its core gold assets.
Logrosan: A Promising Early-Stage Exploration Asset
The Logrosan project is an early-stage exploration asset located in a highly mineralised region of Spain, known for occurrences of tungsten, tin, rare earth elements, and gold. Deccan Gold expects that ongoing exploration and drilling could convert existing mineralisation into defined Mineral Resources within the next one to two years, subject to technical evaluation and regulatory approvals.
Why Spain Is Strategic for Critical Minerals
Spain continues to emerge as an attractive jurisdiction for mining investments, supported by its rich critical-mineral endowment, supportive permitting framework, competitive operating costs, and proximity to key European industrial markets. In addition, the absence of production-based royalties enhances project economics. As Europe seeks to secure diversified and resilient supply chains for strategic raw materials, Spain’s relevance in the critical minerals landscape continues to grow.
Tungsten’s Rising Strategic Importance
Tungsten is globally classified as a critical mineral due to its indispensable role in defence, aerospace, advanced manufacturing, high-temperature alloys, cutting tools, and electronics. With more than 80% of global tungsten supply currently dominated by China, demand for alternative, non-China sources has intensified. Against this backdrop, projects such as Logrosan are gaining strategic importance for global supply security.
Management Perspective on the Investment
Dr. Hanuma Prasad Modali, Managing Director, Deccan Gold Mines Ltd., said, “Our entry into the Logrosan Tungsten Project reflects Deccan Gold’s long-term vision of building a globally relevant portfolio in minerals that are critical to modern economies. Tungsten sits at the intersection of national security, advanced manufacturing, and industrial resilience, and Spain offers a rare combination of strong geology, infrastructure, and proximity to European demand.”
He further added, “As India sharpens its focus on critical minerals, Deccan Gold is deliberately extending its capabilities beyond gold into strategically important materials where our exploration expertise can create meaningful value. This investment reinforces our belief that responsible, technically driven mining will play a central role in strengthening global supply chains and positioning Indian companies as credible participants in the international minerals ecosystem.”
Encouraging Geological Indicators at Logrosan
Early exploration and limited drilling at Logrosan have delivered encouraging tungsten intersections, including:
*3 metres at 0.42% WO₃
*8 metres at 0.32% WO₃
In addition, drilling has identified isolated high-grade gold intersections, such as 1 metre at 96.2 g/t gold, highlighting the multi-commodity nature of the mineral system. The broader region also offers upside potential across associated gold and rare earth element targets, including the nearby Maria Gold Project.
Transferable Technical Expertise
Deccan Gold noted that its core technical strengths in gold exploration, drilling, and resource evaluation are directly transferable to tungsten systems. Similarities in geological settings, mineralisation styles, and exploration workflows allow the company to efficiently leverage its existing expertise across both commodities.
Maria Gold Project Adds Multi-Commodity Upside
Located within the broader Logrosan mineralised corridor, the Maria Gold Project represents a prospective near-surface gold and antimony system. Historical work and recent reconnaissance have identified encouraging gold anomalies through stream sediment sampling, pointing to the potential presence of a structurally controlled mineralised trend.
As per the press release, the proximity of Maria to the Logrosan tungsten project further reinforces the multi-commodity potential of the region and aligns with Deccan Gold’s strategy of advancing gold opportunities alongside its expanding critical minerals portfolio.
