Deccan Gold Mines makes strategic entry into copper exploration in Mozambique

Deccan Gold Mines Limited (DGML) (BSE: 512068), India’s first publicly listed gold and critical minerals company, announced on Wednesday a major milestone in its international expansion by securing nearly 1,000 sq km of highly prospective copper exploration acreage in Central-West Mozambique.

The move marks DGML’s official entry into the copper segment and strengthens its role in securing future-ready mineral supply chains for India. Through its Dubai-based subsidiary Deccan Gold FZCO, the company has established a new step-down subsidiary, Deccan Mineracao Mozambique Ltda (DMMOZ) to explore for copper, gold, nickel, and platinum group elements (PGEs) in the resource-rich Tete Complex. Deccan FZCO holds 90% stake in DMMOZ with the remaining 10% owned by local Mozambican partners.

“This expansion is a strategic leap for Deccan Gold and India’s mineral security agenda,” said Dr. Hanuma Prasad Modali, Managing Director of Deccan Gold Mines. “Mozambique offers untapped potential in copper and PGEs, and we are proud to be the first BSE-listed company to operate in the region. In this initial phase of our exploration, we plan to invest approximately USD 1.5 million in geophysics, soil sampling, drilling, and techno-economic studies as we work toward establishing a world-class copper operation,” he said in a company release.

While neighbouring Zambia and Zimbabwe are renowned for their copper reserves, Mozambique’s Tete Complex—with similar geology—has seen minimal modern exploration. Historical regional surveys, World Bank-funded sampling, and visible artisanal activity have confirmed copper oxide mineralisation in multiple parts of the tenement package now controlled by DMM.