Deccan Gold buys 51% of a Spanish tungsten explorer for €1.76M
The Indian gold miner is diversifying into critical minerals in Spain, with an option to own 75% of the target.
— 2 earlier stories on Deccan Gold Mines Ltd. →What's new
- Deccan Gold has signed a deal to buy 51% of Spanish explorer Logrosan Minera for €1.76M in cash.
- Logrosan holds licences for tungsten, tin, rare earths and gold across 7,732 hectares in Spain.
- An option to increase the stake to 75% exists for a further €1M, tied to milestones.
Why this matters
This is Deccan Gold's first move into critical minerals and into a European jurisdiction. At €1.76M, the deal is about 4.9% of the company's ₹3,249 cr market cap, making it a small but meaningful bet away from its core Indian and Kyrgyz gold projects.
What we're watching
- Whether the multi-country regulatory approvals (India, Dubai, Spain, UK) clear by the target close of March 2027.
- The outcome of the ongoing drilling programme at Logrosan's Antonio and Mari concessions.
- Any signals on when the option for an additional 24% stake might be exercised.
The full read
Deccan Gold Mines, an Indian gold explorer, is paying €1.76M for a 51% stake in Spain's Logrosan Minera. The target holds licences for tungsten, tin, rare earths and gold across 7,732 hectares in the Logrosán-Madridejos region. Drilling is already in progress, with multiple scheelite veins intersected. This marks Deccan Gold's entry into critical minerals and its first asset in a European jurisdiction, diversifying a portfolio previously limited to Indian and Kyrgyz gold projects. The deal, worth about 4.9% of Deccan Gold's ₹3,249 cr market cap, also carries an option to lift the stake to 75% for another €1M upon reaching milestones. It needs approvals in four countries to close by its March 2027 target.
Questions answered
- What exactly is Deccan Gold buying?
- It is buying a 51% controlling stake in Logrosan Minera, a Spanish company with exploration licences for tungsten, tin, rare earth elements and gold covering 7,732 hectares.
- How significant is the deal size for Deccan Gold?
- The €1.76M cash consideration is approximately 4.9% of Deccan Gold's market capitalisation of ₹3,249 crores, making it a material but not transformative investment.
- What is the option to increase ownership?
- Deccan Gold has the right to increase its stake to 75% for an additional €1 million. That second tranche is subject to independent valuation and the achievement of specific milestones.
- Is there anything happening at the target's mines?
- Yes, a drilling programme is already under way at Logrosan's Antonio and Mari concessions and has intersected multiple scheelite veins, which are a source of tungsten.
- When will this deal actually close?
- The transaction is expected to close by March 2027, but first needs regulatory approvals in India, Dubai, Spain and the United Kingdom.
Story so far
All notes on DECNGOLD →- 9 Jun 2026 · 9:27 PM IST Deccan Gold buys 51% of a Spanish tungsten explorer for €1.76M
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