Deccan Gold Mines update on Tanzanian projects

Deccan Gold (Tanzania) bags 3 Prospecting Licences from Tanzanian authorities

Deccan Gold Mines announced that 3 of the Prospecting Licences (PLs) have been granted by the mining authorities in Tanzania in favour of the company's subsidiary viz., Deccan Gold (Tanzania) (DG Tanzania). DG Tanzania has received official intimation from the Commissioner of Minerals and Mines, Ministry of Minerals and Mining Commission, Tanzania in this regard on 08 February 2021.

The remaining two PL applications which were already recommended are expected to be granted in the coming few days.

It may be noted that DG Tanzania submitted 5 PL applications as per Section 123 of the Tanzanian Mining Act 2010 on October 9, 2020 out of 8 PL areas identified. The PL applications were filed at the Mines Office, Commissioner of Minerals and Mines, Dodoma, which is coming under the purview of Ministry of Minerals and Mining.

All of the areas covered under the above 5 PLs are located within the world class Neo Archean Lake Victoria Gold Fields and associated Greenstone belts which are known historically for gold mining activities.

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