Singareni turns into first coal PSU to take up exploration of gold, copper in nation

Singareni Collieries Company Limited (SCCL) has stepped into one other space of enterprise — venturing into the sector of crucial mineral exploration by securing a license for gold and copper blocks’ survey in Devadurga space of Karnataka by means of the public sale carried out by the Union Ministry of Mines and turning into the primary coal firm to take action.

Revealing this on Tuesday, Chairman and Managing Director of SCCL N. Balram acknowledged that Singareni has emerged because the L-1 bidder by quoting 37.75% royalty within the on-line public sale. He described this as a historic starting for the corporate within the crucial minerals exploration and the primary success in step with the State authorities’s imaginative and prescient to develop SCCL into new sectors.

He defined that exploration actions within the allotted space could be accomplished inside the subsequent 5 years. Stating that exploration would start quickly in Karnataka, he stated Singareni’s Exploration Division would quickly start analysis within the Devadurga area of Karnataka, the place gold and copper deposits have been traced/situated.

After finishing numerous phases of exploration, SCCL should submit the ultimate outcomes to the Government of India within the type of a report. The Centre would then put up the mines up for public sale for business mining primarily based on the estimated reserves.

“The firm that secures the mining rights, be it SCCL or one other agency, must pay royalty to the Karnataka authorities and out of which 37.75% will go to SCCL all through the lifetime of the mine”, Mr. Balaram stated and added that the exploration work was anticipated to value about ₹90 crore. Of it, ₹20 crore could be offered as subsidy by the Central authorities.

Kudos to SCCL: CM, Dy. CM

Meanwhile, Chief Minister A. Revanth Reddy and Deputy Chief Minister Mallu Bhatti Vikramarka who handles the portfolio of Energy congratulated SCCL on successful the exploration license for gold and copper, for the primary time, by means of public sale. They expressed confidence that with its 136-year mining expertise in coal and confirmed experience in exploration, Singareni would emerge as a number one firm within the nation in crucial minerals exploration as properly.

Mr. Balaram acknowledged that Singareni had participated in three auctions after professional groups studied potential blocks, together with platinum group components block at Padhar in Madhya Pradesh, uncommon earth components block at Ontillu, Chandragiri in Andhra Pradesh and gold and copper block at Devadurga in Karnataka, after the Centre had initiated public sale of 13 crucial mineral exploration licenses on March 13, 2025.