Tuesday, 23 February 2016

V.V. Minerals Hopes For Best From New Rules For Atomic Minerals


The Centre is ready to come out with new rules overseeing leases of atomic minerals. These rules will define the maximum radioactive content in the minerals that private companies will be allowed to mine, the concession period and the lease area.

The Beach Mineral Producers Association representation to the government against the recent changes, has disallowed lease of further areas to the private sector.

The states of Kerala and Tamil Nadu are considered to be rich in heavy mineral reserves. There are 71 beach mineral mining leases in Tamil Nadu covering a total area of around 700 hectares. The industry association says there are pending applications of beach minerals involving approximately 5,000 hectares of land.  Officials, maintain certain lease area that violates the Coastal Regulation Zone rules could be approved for mining.

Tamil Nadu-based V. V. Minerals is India's largest garnet miner and exporter. Garnet has considerable amount of a radioactive mineral – monazite. The changes in regulations for such minerals are going to impact companies like V. V. Minerals majorly.

V. V. Minerals is also a major producer and exporter of Ilmenite, which has recently been listed as an atomic mineral. This puts the company in a dire state. Vaikundarajan Subramaniam, the Managing Director of V. V. Minerals, is hoping for an outcome that is positive for all private players in the Indian mining scenario.

For More Story Read Article On: Business Standard

1 comment:

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