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A scam surrounding illegal beach mining activity has recently come to light. Being the largest producer of garnet and ilmenite, VV Mineral Mining has by default found itself in the midst of this controversy. <br><br>VV Mineral Vaikundarajan, founder, said in an interview, “The mineral rich sand is getting washed away from the Indian coastline in the absence of mining, and as a result, Sri Lanka, located further down, is reaping rich benefits at the cost of Indian industry.” The rising water-level due to global warming is already causing a lot of problems all over the world, and with the water moving in on the shores, India might be losing a lot of mineral reserve. If action is delayed, India will lose its Thorium-rich status.
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The World Nuclear Association is a global body of nuclear industry that declared India to be a home to 300000 tonnes of thorium deposit. Contrary to this report, some studies suggest that the beach minerals in India have depleted considerably. As of today, a staggering 2,00,000 tonnes of thorium oxide is reported missing in India. The monazite quantity has decreased by over 2.1 million tonnes. http://vvmineralblog.wordpress.com
A scam surrounding illegal beach mining activity has recently come to light. Being the largest producer of garnet and ilmenite, VV Mineral Mining has by default found itself in the midst of this controversy. http://vvmineral.wordpress.com
VV Mineral Vaikundarajan, founder, said in an interview, “The mineral rich sand is getting washed away from the Indian coastline in the absence of mining, and as a result, Sri Lanka, located further down, is reaping rich benefits at the cost of Indian industry.” The rising water-level due to global warming is already causing a lot of problems all over the world, and with the water moving in on the shores, India might be losing a lot of mineral reserve. If action is delayed, India will lose its Thorium-rich status. http://vvmineralmining.wordpress.com
He further stated that it is practically impossible for one company to full of a scam of such extent. Hence, the allegation against the company is probably a ploy by the business rivals to hamper the company’s reputation. http://vvmineral-mining.blogspot.in
VV Mineral is not the only company affected by the scam. Following the allegations, the state government has setup and investigation team and suspended all mining activities temporarily. This has brought VV Minerals and other companies under tremendous pressure and loss.
Monazite is a source of Thorium and Indian Rare Earths Ltd is the only company exporting it. The company is a public sector undertaking under the Department of Atomic Energy. http://vvmineralmining.blogspot.in
V Narayanasamy, Minister of State in the Prime Minister’s Office, stated, “Ilmenite, Rutile, Leucoxene, Garnet, Sillimanite and Zircon are separated from beach sands and these individual heavy minerals — free of Monazite — are being exported.” Furthermore, no licence or permission is required from DAE for these substances due to the delisting of Ilmenite, Rutile, Zircon etc. from the list of prescribed substances. http://vvmineralblog.wordpress.com
While the investigation is yet to reach its conclusion, VV Minerals India has expressed his full support to the team and believes that the company will come out clean. http://vvmineral.wordpress.com
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