HYDERABAD: Stating that profitability is key to safeguarding the future of Singareni Collieries Company Limited (SCCL) employees and their families, Deputy Chief Minister Mallu Bhatti Vikramarka on Friday said that the state-owned coal mining enterprise should diversify into alternative sectors.
During a review meeting with senior officials of SCCL and GENCO at the Singareni headquarters in Kothagudem, he said that the growing adoption of solar power, pumped storage, wind energy, hydrogen, and rare earth-based battery storage technologies could significantly reduce dependence on thermal power and coal. “Therefore, Singareni must strategically diversify into alternative sectors,” he said.
Vikramarka, who also holds the energy portfolio, observed that the energy sector is expected to undergo a major transformation over the next 15 to 20 years.
With the rapid growth of solar power, pumped storage, wind energy, hydrogen, rare earth minerals, and battery energy storage systems, the dependence on thermal power and coal is likely to decline gradually. In view of these changes, Singareni should not remain confined to coal mining alone but should proactively diversify into emerging sectors, he said.
He proposed that Singareni expand into mining of critical minerals such as lithium and cobalt, which are essential for semiconductor manufacturing, microchips, electric vehicle batteries and other advanced technologies.
He also suggested that the company participate in auctions for critical mineral blocks in countries such as Australia and South Africa.