Under the agreement, the company will invest €1.76 million to progressively acquire a 51% stake in Logrosan Minera S.L. by March 2027. Deccan Gold will subsequently have the option to increase its ownership to 75%, subject to agreed milestones and independent valuation, with the potential to raise its stake further to as much as 95% over time, subject to regulatory approvals.
The company said the agreement builds on its strategic entry into the Logrosan Project announced in December 2025 and strengthens its portfolio of gold and critical mineral assets.
Hanuma Prasad Modali, Managing Director, Deccan Gold Mines Limited, said, “Beyond tungsten, the project offers exposure to a broader mineralised district with potential across gold, rare earth elements, tin, and other strategic minerals.”
He added that Logrosan strengthens their international critical minerals portfolio and aligns closely with their long-term vision of building a globally relevant mining platform
Located in Spain, the Logrosan and Maria projects together offer exposure to tungsten, gold, tin, rare earth elements, niobium and tantalum. Exploration carried out by Deccan Gold’s partners has identified multiple targets through soil sampling, geophysical surveys and drilling programmes.
At Logrosan, a six-hole diamond drilling campaign intersected multiple veins of scheelite (tungsten) mineralisation, including intersections of 3 metres at 0.42% WO₃, 9 metres at 0.32% WO₃ and 2.7 metres at 0.29% WO₃.
Company said that a drilling programme is currently underway to further define and extend the mineralised zones.
The company said early exploration results indicate potential for tungsten mineralisation, with additional upside from gold and rare earth elements.
Tungsten is classified as a critical mineral due to its use in defence, aerospace, semiconductors, electronics and advanced manufacturing industries. Deccan Gold said it expects to provide further updates on exploration and drilling progress in the coming months.
Shares of the company closed at ₹159.25 on the BSE, down 7.70 points or 4.61% for the day.
Also Read: Defence Ministry signs ₹449 crore contract with Accord Software for Indian Navy GNSS jammers
