The Republic of Ghana, celebrated for its abundant reserves of diamonds, gold, bauxite, manganese, and lithium, has issued a formal invitation to Singareni Collieries Company Limited (SCCL) to invest in its burgeoning mining sector. This outreach underscores Ghana's drive to amplify production through strategic foreign partnerships, leveraging SCCL's century-old expertise in resource extraction.

On Saturday, a prominent Ghanaian delegation convened with SCCL Chairman and Managing Director N. Balram at Singareni Bhavan to explore collaborative ventures. The visitors emphasized Ghana's stature as a leading producer and exporter of key minerals, while highlighting untapped potential in coal mining. They extended a warm welcome to SCCL, citing the company's proven track record as an ideal partner for scaling operations.

In response, Balram stressed SCCL's proactive push toward international diversification. "We have already embarked on global expansion initiatives, particularly in critical minerals," he noted, committing to a thorough assessment of Ghanaian prospects with a focus on high-priority extraction projects. This aligns seamlessly with SCCL's broader vision: established in 1920 as India's oldest coal mining firm, the company has long eyed overseas horizons.

Historical bids in 2015 targeted coal assets in Indonesia, Australia, Mozambique, Botswana, and South Africa, though execution faced delays. More recently, in January 2025, SCCL announced explorations for critical minerals abroad, bolstered by the launch of its "Singareni Global" wing in September. Backed by State Bank of India, this arm aims to spearhead ventures in rare earths and renewables, marking a shift from domestic coal dominance to sustainable global plays.

The delegation revealed plans for a Ghanaian technical team to engage India's central government next month. They proposed a follow-up dialogue with SCCL and urged a reciprocal visit to Ghana for deeper consultations. Balram enthusiastically endorsed the idea, pledging to dispatch a delegation of SCCL executives soon.

This pact heralds a landmark moment for SCCL, offering its inaugural foothold on the African continent and aligning with India's quest for secure mineral supply chains. As global demand for critical resources surges amid the green energy transition, the collaboration promises mutual economic upliftment—Ghana through enhanced output, and SCCL via diversified portfolios.

Balram urges banks to extend insurance to contract workers

Hyderabad: Singareni CMD N. Balram urged the banks to extend Rs.50 lakh accidental insurance coverage to contract workers.

The CMD held a special meeting on Saturday at Singareni Bhavan with senior officials from State Bank of India, Union Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, Indian Overseas Bank, HDFC Bank.

He stated that the free accident insurance scheme, launched for the first time in the country for Singareni employees and contract workers, has become a model for the entire nation. The CMD said both the Central and State governments are now taking steps to implement this scheme in their respective organisations.

During the meeting, he said: “It is heartening that through this free accident insurance scheme, Singareni employees are covered up to Rs 1.25 crore, while outsourced employees are insured up to Rs 40 lakh. So far, insurance claims amounting to nearly Rs 30 crore have been settled for 34 employees who lost their lives in various accidents, ensuring financial security for their families.”

He requested that a minimum of Rs 50 lakh accidental insurance coverage be extended to all contract workers and also proposed that a term insurance of at least Rs 20 lakh be provided to employees in cases of natural death.

Balram reminded that the accidental insurance scheme introduced in Singareni has now been adopted as a model by other states and implemented in Coal India as well. He thanked the bankers for their continued cooperation in implementing such progressive welfare measures.