Deccan Gold Mines Limited

Climate Impact & Sustainability Data (2021-04 to 2022-03, 2024)

Legal challenges related to Ganajur Mining Lease and North Hutti Block Prospecting Licence applications due to MMDR Amendment Act, 2021.
Delays in the Composite Scheme of Arrangement to acquire a significant stake in Geomysore Services (India) Private Limited (GMSI).

Filed Amendment Application to Writ Petition No 17018/2021 before the Hon’ble High Court of Karnataka for Ganajur ML.
Filed Writ Petition No. 12867/2022 before the Hon’ble High Court of Karnataka for North Hutti Block PL applications.
Responding to queries raised by BSE regarding the Composite Scheme of Arrangement for GMSI.

Frameworks Used: Ind AS

Many local villagers and townspeople have been employed at the Jonnagiri Gold Project site and have enjoyed tuition and coaching sessions to learn and upgrade their skills. The company has also built simple structures and supplied schooling materials at some local schools and provided back-up power supply to a medical clinic. Some GMSI personnel have also relocated their families to the region further bolstering connections with the local communities.

Long-term Goals:

Begin exploration activities on our Bhalukona Ni-Cr-PGE Project.
Finalise plans for a trial pit in Finland and seek to identify new deposits through grass roots exploration activities on under-explored regions of our tenements.
Engage with leading Indian research centers to enhance the scientific and technical capability of our company and provide real-world study opportunities to the next generations of earth scientists and mining engineers.

Medium-term Goals:

Continue to define and increase geological understanding of the mineralized systems that are present on our Tanzania tenements.

Short-term Goals:

Bring Jonnagiri and Altyn Tor operations into production.
Establishing trading routes with our shipping contractors for sale of lithium and tantalum products from Mozambique.
Explore, define resources, and undertake technical and engineering studies on construction of a modest-scale processing plant in Mozambique.

The Government of India amended the MMDR Act, 1957 introducing the ‘auction only’ regime for allocation of mineral resources. Response to auction of critical blocks has not been encouraging. The company is actively pursuing the Court route to regain its rights over its advanced stage Ganajur gold project and Tier-II Hutti Gold Projects in India.