Another significant name has been added to the country's mineral wealth. A major mineral discovery has been made in the Bhalukona area of Mahasamund district, Chhattisgarh, which is expected to place India on the global map of critical minerals. Deccan Gold Mines Limited shared this information with the BSE on August 4. The company stated that it has found indications of Nickel, Copper, and Platinum Group Elements (PGE) under the Bhalukona Project.
700-Meter-Long Mineralized Zone Discovered
Deccan Gold stated in its announcement that it has discovered a mineralized zone approximately 700 meters long, containing valuable minerals such as Nickel, Copper, and PGEs. A notable aspect of this discovery is that the rock formations in this area are mafic-ultramafic, similar to those found in some of the world's major mineral deposits, such as Nebo-Babel in Australia and Ahmavaara in Finland.
Claims of REE Deposits Found in Singrauli Previously
Earlier, on July 28, the Minister of Coal and Mines, G. Kishan Reddy, informed Parliament that a large deposit of Rare Earth Elements (REEs) had also been found in the Singrauli Coalfields of Madhya Pradesh. At a time when China has imposed restrictions on the export of these minerals, these discoveries are considered very important for India.
Deccan Gold's Share Rises
As soon as this news reached the stock market, Deccan Gold Mines shares witnessed a surge. On August 4, its share opened at ₹140 compared to the closing price of ₹137.95 and reached ₹141.70 by 10:30 am. Investors are showing considerable enthusiasm regarding this discovery.
The company has informed that drone-based magnetic surveys suggest the possibility of more mineralized zones beneath the soil. Additionally, IP (Induced Polarization) surveys have indicated the presence of sulfide mineralization up to 300 meters below the ground. This suggests that the area may be rich in mineral resources.
Drilling to Commence After Crop Harvesting
Deccan Gold officials have stated that drilling work has been postponed for a short period due to the ongoing crop harvesting season in the area. After drilling, soil sampling will be conducted in the surrounding areas to explore for more mineral zones.
Company's MD Calls It a Moment of Pride
The company's Managing Director, Dr. Hanuma Prasad Modiyali, described it as a historic discovery for India. He said that this is the first time that a sulfide-based mineral structure of Nickel, Copper, and Platinum group has been found in the country. This discovery could make India an important part of the Global Critical Minerals Supply Chain.
Deccan Gold received this mining area from the government on April 1, 2025. This block is spread over approximately 30 square kilometers and is located in the Basna tehsil of Mahasamund district. The company has received all necessary approvals from the forest department and preparations for starting work on the ground have been completed.
India's Only Listed Critical Mineral Company
Deccan Gold Mines is India's only listed company active in the mining of Gold and Critical Minerals. It is listed on the BSE and is considered the first company in the country to have achieved success in research and exploration for such valuable minerals.
Nickel is a b, silver-gray metal that does not rust. It is mostly used to make stainless steel. It is also a good conductor of electricity. This metal is especially used in electric vehicle batteries, machinery, pipes, coatings, and aerospace industries.
Copper is a reddish-brown metal that is the best conductor of electricity and heat. It is essential in every electronic device, wiring, motor, and transformer. In addition, it is used in EV charging units, renewable energy systems, solar panels, and building construction.
Why Does India Need These Minerals?
India currently imports a large portion of all these metals from abroad. These minerals are essential for sectors such as EVs, defense equipment, clean energy missions, and industrial machinery. The Government of India has placed them in the list of strategic resources under the "Atmanirbhar Bharat" campaign. Increasing domestic production can significantly free India from foreign dependence.
This discovery is considered a major achievement in the country's mineral resource sector, which could further strengthen India's Critical Minerals policy in the coming years.
