Deccan Gold Mines Ltd has secured the runner-up position in the Excellence in Mineral Discovery and Exploration category at the Associated Chambers of Commerce & Industry of India (ASSOCHAM) awards. The recognition was awarded for the discovery of nickel, copper, and PGE mineralisation at its Bhalukona Project located in Chhattisgarh. This achievement underscores the company's progress in identifying critical mineral resources within the country.

The company reported that assay results for six drill holes have been received to date. Of these, five drill holes intersected potentially economic Ni-Cu-PGE mineralisation. This technical data supports the potential economic viability of the Bhalukona Project.

Deccan Gold expressed optimism that the project could evolve into India’s first Nickel-Copper-PGE mine. The company believes the asset has the potential to contribute meaningfully to the nation's critical minerals ambitions, subject to continued exploration success.

Project Details

Company Profile

Deccan Gold Mines Ltd remains the first and only gold and critical mineral resource company listed on the Bombay Stock Exchange Limited (BSE). Established in 2003, the firm holds a strategic portfolio of assets across India and internationally. Its projects span Andhra Pradesh, Kyrgyzstan, Chhattisgarh, Spain, Mozambique, Finland, and Tanzania.

The company's vision focuses on becoming India’s leading gold and critical minerals producer. It emphasizes ethical and responsible mining practices, aiming to transform natural resources into shared prosperity through sustainable nation-building.

The Supreme Court of India has upheld the vested rights of mining lease applicants where a decision to grant a lease was taken prior to the 2015 amendments to the Mines and Minerals (Development and Regulation) Act, 1957. The judgment, delivered on June 9, 2026, in Writ Petition (Civil) Diary No. 35746 of 2026, clarifies that such cases will not be treated as "pending applications" and are exempt from the subsequent statutory regime mandating auctions. Deccan Gold Mines is evaluating the implications of this order for its Ganajur project.

Legal Ruling on Vested Rights

The Court ruled that if a state government decided and recommended a mining lease to the central government before 2015, the applicant's rights are considered accrued and vested. This status remains valid regardless of the formal communication of the grant order or the execution of the mining lease deed. The judgment specifically addresses the conflict between pre-2015 decisions and the introduction of Section 10A, which prescribed auction as the primary route for granting mining leases post-2015.

The order further states that the provisions of Section 10A, inserted in 2015, and the lapse provisions introduced in 2021, do not apply to cases where the decision to grant was already made. The Court emphasized that the general rule of "no decision till communication" does not apply when a prior approval from the central government exists under Section 5(1) of the Act.

Implications for Deccan Gold Mines

Deccan Gold Mines Limited disclosed that its legal team is examining the judgment's impact on the pending proceedings concerning the Ganajur project. The company noted that the ruling affirms that applicants with preferential rights under Section 11(1) of the MMDR Act, who secured a decision prior to 2015, remain protected from the auction route. The Ganajur project is a key asset for the company, and the legal clarity provided by the Supreme Court may influence its operational trajectory.

Key Judicial Observations

The Court dismissed the Public Interest Litigation (PIL) challenging the grant of a mining lease in Gadchiroli District, Maharashtra. It observed that the notion of public interest in resorting to auction was misplaced in cases where vested rights had already accrued. The judgment also referenced the legal opinion of the Attorney General for India, which supported the state government's decision to grant the lease outside the auction process.

The Court clarified that while the rights to the lease are upheld, no mining operations can commence without obtaining statutory approvals such as mining plans, environmental clearance, and forest clearance.