Deccan Gold Mozambique LDA (DGMOZ), a newly formed joint venture between Indian mining firm Deccan and Mozambican mining company Magnifica, will conduct lithium exploration activities in the Alto Ligona Pegmatite Belt in Mozambique.
DGMOZ will establish a 100-tons-per-day lithium processing facility in Mozambique, leveraging a $10 million capital injection to be made by Deccan over the next three years. Capacity at the refinery will be increased to 1,000 tons per day based on exploration results.
Lithium produced from the Mozambican concessions will be exported to India to meet the growing demand for critical minerals crucial for the energy transition in the market.
The projects follow Deccan acquiring stakes in five lithium exploration blocks in Mozambique from Magnifica. The acquisition marks Deccan’s entrance into the critical minerals sector.