Indian gold exploration company’s subsidiary discovers gold and lithium in Tanzania

It also awaits its Prospecting Licence (PL) for lithium and associated metals as well.

“The discovery in the Nzega – Tabora Greenstone belt in Tanzania, highlights our technical expertise in exploration and prospecting, across some of the most complex terrains globally. Our ongoing efforts to scale up our global assets complement the core business and augment our operational strengths. The lithium discovery is a significant step towards our strategy to diversify into critical minerals,” said Hanuma Prasad Modali, managing director of Deccan Gold Mines Ltd.

Deccan Gold Tanzania has 4 prospecting licences (PL) for gold over the Nzega-Tabora Greenstone Belt and 1 PL for gold over the Geita-Sukumaland Greenstone Belt. All these 5 PLs were granted during end-2021.

The company recently applied for a lithium prospecting license which has been recommended for grant. Deccan Gold Mines as a part of its strategy to diversify into critical minerals, has carried out a significant amount of desktop studies on potential areas in Tanzania.

Based on these studies the company has identified a potential area of 100.49 square km, on which it has applied for prospecting license. The prospecting license has already been recommended and a grant order is awaited.