Overview

• SCCL emerged as the L-1 bidder in the Union Ministry of Mines’ online auction by quoting a 37.75% royalty.
• Under the licence terms, SCCL will receive 37.75% of the royalty that Karnataka collects over the mine’s life, regardless of who later secures mining rights.
• Field work in the Devadurga block will begin soon, with SCCL to submit a final exploration report to the Centre before commercial mining is auctioned.
• The company estimates exploration costs at about ₹90 crore, including a ₹20 crore subsidy from the central government.
• The move marks SCCL’s entry into critical minerals exploration, drawing public congratulations from Telangana’s chief minister and deputy chief minister.