By Neeraj Kumar
Copyright deccanchronicle
Hyderabad: In a strategic business expansion, Singareni Collieries Company Limited (SCCL) has secured exploration licenses for gold and copper mines in Karnataka’s Raichur and Devadurga areas, with a lucrative 37.75% royalty share. Exploration work is set to begin shortly, promising substantial financial benefits for the company. Once reserves are found, the company engaged in mining will continue to pay royalties to SCCL, boosting the company’s economy.Announcing this at a press conference, Deputy Chief Minister Bhatti Vikramarka said SCCL would participate in upcoming coal and mineral mine auctions as part of a major policy shift to ensure the company’s survival and protect the livelihoods of 40,000 workers in the near future. Currently operating 38 mines and producing 72 million tonnes of coal annually, Singareni faces dwindling reserves, with 10 mines expected to close in the next five years, risking 8,000 jobs. Participation in auctions is critical to access new blocks, safeguard employment for tens of thousands of direct and contract workers, and boost production to its full potential of 100 million tonnes. Highlighting past setbacks, Bhatti Vikramarka said Singareni lost two significant coal blocks—Sathupalli and Koyagudem—to private companies due to non-participation in auctions, resulting in an estimated revenue loss of Rs 60,000 crore and profit loss of Rs 15,000 crore. While private companies pay royalties to the state, securing these blocks would help maintain jobs and strengthen the public sector enterprise. “If other state and central PSUs can participate, why should Singareni be left out?” he asked. Beyond coal, Singareni is expanding into green energy through “Singareni Green Energy Limited,” planning solar and pumped storage projects. In response to global demand for critical minerals, the company will also venture internationally under “Singareni Global,” following studies by a leading international agency. SCCL CMD N. Balaram expressed gratitude to the state government for enabling these new opportunities through auction participation. Singareni director (operations) L.V. Suryanarayana and director (planning & projects) K. Venkateshwarlu also participated in the event.
