Deccan Gold Mines Ltd.’s Step-Down Subsidiary DGMoZ, Ships First Lithium Ore to China
Date
9/17/2024 5:37:28 AM
(MENAFN- Adfactors PR) September 16, 2024, Bengaluru: Deccan Gold Mines Limited (DGML), India’s only listed gold exploration and mining company (Scrip Code: DECNGOLD | 512068 | INE945F01025), has successfully shipped its first consignment of lithium ore to China through its step-down subsidiary, Deccan Gold Mozambique LDA (“DGMoZ”).
The shipment, totaling 150 tons with a grade of 2.5% Li₂O, marks DGML’s debut in the fast-growing lithium market.
“This milestone underscores our transition into the critical minerals sector, with lithium being a key raw material in the production of batteries for electric vehicles and renewable energy storage systems. We are on track to play a significant role in the global supply chain for critical minerals, thereby reinforcing our commitment to sustainable resource development,” said Mr. Hanuma Prasad Modali, Managing Director, Deccan Gold Mines Limited.
Following this initial shipment, DGML plans to rapidly scale its exports, aiming to reach 1,000 tons per month in the near future. The company will also broaden its product range to include high-grade spodumene with 4%+ Li₂O and lepidolite with 2%+ Li₂O, further strengthening its presence in the global lithium market.
DGML continues to advance exploration activities across its licensed areas in Mozambique. Comprehensive geological surveys and sampling are underway, with a bulk sample already sent to SGS South Africa for beneficiation test work.
This test work will help optimize the process plant design, which is expected to have a capacity of 100 tons per day (tpd) and be operational by the end of 2025.
Once completed, the plant will produce approximately 7,000 tons per annum of high-grade concentrate, boosting DGML’s production capabilities.
DGML’s future plans include diversifying its mineral portfolio to include caesium, tantalum, gallium, and beryllium—critical materials for high-tech industries such as electronics, aerospace, and renewable energy.
Additionally, the company is actively pursuing strategic partnerships to solidify its position in the global market and drive innovation.
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