Hyderabad: The Singareni Collieries Company Limited has lost two major coal blocks and revenue of about Rs 60,000 crore due to its inability to participate in past auctions. However, State Deputy Chief Minister and Energy Minister Mallu Bhatti Vikramarka has announced that the company has now been permitted to participate in upcoming coal block auctions conducted by the Union Coal Ministry.

Addressing the press, the Deputy CM said that considering the livelihood of 40,000 Singareni workers and the survival of the company itself, the decision was made for Singareni to secure new blocks. He recalled that earlier, all coal blocks in the Singareni region were allocated directly to the company. But after a Supreme Court judgment, the Central Government began auctioning coal blocks to both government and private entities. However, due to past misconceptions and emotional reasons, Singareni was barred from participating.

Given the rising global demand for critical minerals, Singareni is also preparing to enter this sector. An international agency has been appointed to study opportunities for critical mineral production across the world. Based on its recommendations, Singareni will launch operations abroad under the banner “Singareni Global.”

As part of this business expansion, Singareni recently secured an exploration license for gold and copper in the Raichur and Devadurga areas of Karnataka, with a 37.7 per cent royalty share. Exploration work will commence soon. Once mining begins, the operator will pay 37.7 per cent royalty to Singareni throughout the mine’s lifespan, bringing substantial financial benefits to the company. Singareni Chairman & Managing Director N Balaram noted that while Singareni has the capacity and a skilled workforce to produce 100 million tonnes of coal annually, the lack of coal blocks is currently limiting this potential.