Deccan Gold Mines Ltd, India’s only listed gold and critical minerals mining company, has signed a definitive agreement to acquire a 51% stake in Spain-based Logrosan Minera S.L. for a cash consideration of €1.76 million, marking a significant step in its international expansion strategy and strengthening its exposure to critical minerals.
The acquisition will provide Deccan Gold with access to exploration assets prospective for tungsten, tin, rare earth elements (REEs) and gold in Spain, while opening avenues for future mining development opportunities in Europe.
Strategic entry into Spanish critical minerals sector
Logrosan Minera currently holds two granted exploration licences, Antonio and Mari, covering a combined area of 7,732.37 hectares. The licences are prospective for tungsten, tin, rare earth elements and gold.
The company has also applied for an additional exploration licence, Logrosan North, covering 3,072.09 hectares for gold exploration.
Deccan Gold said the investment will facilitate collaboration in mineral exploration activities and support the potential development of mining prospects in Spain.
Acquisition to be completed by March 2027
The transaction will be executed either directly by Deccan Gold Mines or through its wholly owned subsidiary, DGFZCO.
The company expects the acquisition of the 51% stake to be completed progressively by March 2027.
Option to increase stake to 75%
Upon completion of the initial earn-in phase, Deccan Gold will have the option to raise its holding in Logrosan Minera from 51% to 75%.
The increase will be subject to an independent valuation, achievement of agreed milestones and payment of an additional €1 million consideration to the existing shareholder, Logrosan Minerals Limited, United Kingdom.
The phased investment structure provides Deccan Gold with greater flexibility while aligning future capital commitments with exploration progress and project milestones.
Projects located in highly mineralised region
Logrosan’s projects are located within one of Spain’s well-known mineralised belts, recognised for occurrences of tungsten, tin, rare earth elements and gold.
A drilling programme currently underway has already intersected multiple scheelite-bearing veins, indicating the presence of tungsten mineralisation and supporting the exploration potential of the licences.
The projects are being advanced through greenfield exploration activities undertaken by Logrosan Minerals Ltd UK.
Strengthening critical minerals portfolio
The overseas acquisition comes at a time when Deccan Gold is actively expanding its critical minerals portfolio amid growing global demand for strategic resources used in clean energy, electronics and advanced manufacturing sectors.
The move also diversifies the company’s exploration footprint beyond India and provides exposure to mineral assets in a mining-friendly European jurisdiction.
Recent Success at Bhalukona project
The development follows encouraging exploration results recently reported by Deccan Gold from its Bhalukona Nickel-Copper-PGE Project in Chhattisgarh.
The company had announced additional drilling results that significantly expanded the scale of the mineralised system identified earlier in May 2026.
According to the company, the latest drilling confirmed a broad corridor of potentially economic nickel, copper and palladium mineralisation, along with localised platinum occurrences, extending over a strike length of around 430 metres and to depths exceeding 200 metres.
Importantly, the mineralised corridor remains open, with ongoing drilling indicating potential continuation across a much larger target zone stretching up to 1.3 kilometres.
The Spanish acquisition, coupled with progress at Bhalukona, underscores Deccan Gold’s strategy of building a diversified portfolio spanning gold and critical minerals as it seeks to capitalise on the growing global focus on resource security and energy-transition metals.