Singareni Collieries Diversifies Beyond Coal, Eyes Green Energy and Critical Minerals
Deputy Chief Minister Mallu Bhatti Vikramarka announced Singareni Collieries' expansion beyond coal mining into thermal, solar, and green energy, alongside new ventures in critical minerals like gold and copper. The company aims to bolster its operations and create job opportunities, vying to sustain its long-term viability.
- Country:
- India
Singareni Collieries Company Limited (SCCL), a major government-owned coal mining entity, is set to broaden its horizons beyond traditional coal mining. Deputy Chief Minister Mallu Bhatti Vikramarka revealed the company's plans to diversify into thermal, solar, and green energy sectors.
Vikramarka announced that the company has secured a lucrative exploration license for critical minerals including gold and copper in Karnataka, enhancing its portfolio and financial prospects. These moves are meant to invigorate SCCL's growth and employment potential.
He also noted past missed opportunities, attributing a loss of revenue to non-participation in coal auctions by the previous government, and urged future participation to ensure sustainable coal production as reserves dwindle. Singareni plans to explore global opportunities via the newly conceived "Singareni Global."
(With inputs from agencies.)
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