Hyderabad: The Singareni Collieries Company Limited recently faced setbacks, losing two significant coal blocks and a potential revenue of around Rs 60,000 crore. This happened because the company couldn’t join previous auctions. However, State Deputy Chief Minister and Energy Minister Mallu Bhatti Vikramarka has now announced that Singareni can take part in future coal block auctions organized by the Union Coal Ministry.
Speaking to the media, the Deputy Chief Minister highlighted the importance of securing new blocks for the livelihoods of 40,000 Singareni workers and the company’s future. Previously, coal blocks in the Singareni region were directly given to the company. A Supreme Court decision changed this, leading the Central Government to auction coal blocks to both public and private groups. Misunderstandings and emotional factors previously kept Singareni out of these auctions.
With an increase in global demand for important minerals, Singareni is planning to explore this field. An international agency has been hired to assess global opportunities for critical mineral production. Based on their findings, Singareni will start international operations under “Singareni Global.”
In their expansion efforts, Singareni obtained an exploration license for gold and copper in Raichur and Devadurga in Karnataka, with a 37.7% royalty share. Exploration will begin soon. When mining starts, the operator will pay 37.7% royalty to Singareni over the mine’s life, significantly boosting the company’s finances. Singareni Chairman & Managing Director N Balaram mentioned that while Singareni can produce 100 million tonnes of coal annually, the current lack of coal blocks limits this capacity.
