India’s BPCL secures marketing rights as Mozambique LNG sets to resume construction
Deccan Gold Mozambique exports its first lithium ore cargo to China
10:19 CAT | 17 Sep 2024
FILE - Deccan Gold Mines also plans to expand its product offerings to include other critical minerals like tantalum, caesium, gallium, and beryllium. [File photo: Courtesy of Deccan Gold Mines]
- Deccan Gold Mines also plans to expand its product offerings to include other critical minerals like tantalum, caesium, gallium, and beryllium.
Shares of Deccan Gold Mines Ltd informed the exchanges that its step-down subsidiary, Deccan Gold Mozambique LDA announced its first successful export of Lithium Ore (with a grade of 2.5% Li2O) to China.
The quantity exported was 150 tonnes sourced from one of its licensed areas in Mozambique.
“The initial export marks a pivotal moment for DGML as we continue to expand our operations and meet the increasing global demand for lithium, a critical component in the production of batteries for electric vehicles and renewable energy storage systems,” Deccan Gold Mines said in the exchange filing.
Deccan Gold Mines’ Mozambique unit now plans to scale up shipments to nearly 1,000 tonnes per month in the “near future.” The product line will soon include high-grade Spodumene with a 4% Li2O and lepidolite with a 2% Li2O content, further enhancing its portfolio and market presence.
READ: India’s Deccan Gold Mines acquires majority stake in 5 lithium blocks in Mozambique
Deccan Gold Mines also said that exploration work is actively underway across all its licensed areas in Mozambique. A bulk sample is also being sent to South Africa for beneficiation test work to determine the optimal process plant flow stream.
The company’s process plant, with a capacity of 100 tonnes per day, is set to be operational by the end of 2025. The plant is likely to produce nearly 7,000 tonnes per annum of high-grade (4% – 5% Li2O) concentrate.
“Additionally, the process flow stream will be geared to produce concentrates of tantalum, caesium, gallium, and beryllium. The establishment of this plant will not only increase our production capacity but also enhance our ability to supply high-quality lithium concentrate and associated by-products to the global market”, Deccan Gold Mines said in the exchange filing .
Deccan Gold Mines also plans to expand its product offerings to include other critical minerals like tantalum, caesium, gallium, and beryllium, minerals used for various high-tech applications, including electronics, aerospace and renewable energy technologies.
Excited with exporting our first lithium cargo from Mozambique.https://t.co/yKqzbDmdTupic.twitter.com/vvH5fTKaer
— Deccan Gold Mines Ltd. (@DeccanGoldMines) September 15, 2024
Source: CNBC / Deccan Gold Mines Limited
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