Thorium Scam Doesn’t Exist, Says Vaikundarajan

The World Nuclear Association stated that India has seen a considerable decline in the amount of thorium deposits. The beach minerals have depleted from 300000 tonnes to 200000 tonnes across the Indian coastline. Monazite quantity has also decreased by more than 2.1 million tonnes.

Being the largest producer of Garnet and Ilmenite, VV Minerals is being scrutinised by the stake holders. However, S Vaikundarajan, founder of VV Minerals stated, “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.”

To pull off a scam of such extent is impossible for one company alone. Due to global warming, the rising water level is causing a lot of problems across the world. With the water moving in on the shores, India may lose a lot of mineral reserves. Soon, India may also lose its Thorium rich status.

Indian Rare Earths Ltd (IREL), a public sector undertaking under the Department of Atomic Energy (DAE), is the only company exporting Monazite said V Narayanasamy, Minister of State in the Prime Minister’s Office (PMO), to the Lok Sabha, on November 30, 2011. Monazite is a source of Thorium.

“Ilmenite, Rutile, Leucoxene, Garnet, Sillimanite and Zircon are separated from beach sands and these individual heavy minerals — free of Monazite — are being exported.” said the Minister.

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, said V Narayanasamy.

VV Minerals Asked To Re-submit The Draft Scheme

The Madras High Court addressed by Chief Justice Sanjay Kishan Kaul and Justice TS Sivagnanam set aside an order quashing the rejection of mining scheme of one of the leading mining companies VV Minerals and Transworld Garnet India. The court noted that the order issued by the Single Bench was bereft of any reason and did not deal with the respective submissions of the learned counsel for the parties.

VV Minerals India had submitted a plea to cure the defects examined by the bureau in the draft mining scheme. The compliances will not have to be resubmitted and examined in accordance with the law by the authority.

Thorium Scam Made-Up To Defame VV Minerals India

The World Nuclear Association estimated 3,00,000 tonnes of Thorium deposit in India. However, in recent years India has seen a depletion of these deposits. As per the reports, around 2,00,000 tonnes of Thorium-Oxide is missing from the country. Along with Thorium, Monazite quantity has also seen a decline along the coastline by more than 2.1 million tonnes.

VV Minerals, the largest sand beach mining company, has been at the receiving end of a Thorium scam. These allegations against the company cannot be justified simply because VV Minerals is the largest producer of Garnet and Ilmenite. VV Minerals stated, “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.”

As per some allegations, Thorium scam is reported to be worth 96,000 crore rupees. It is practically impossible for one company to pull off a scam of such extent. VV Mineral Vaikundarajan further explains that the rising water level from global warming is also responsible for these depletions. “The water is moving is on the shores resulting in India losing a lot of mineral reserves,” he explains. At this rate, India may soon lose its Thorium rich status.

Currently, Indian Rare Earths Ltd is the only company exporting Monazite. Other minerals such as Ilmenite, Rutile, Leucoxene, Garnet, Silimanite and Zircon are separated from beach sands before exporting. No licence or permission is required from DAE to export these minerals due to their delisting from the list of prescribed substances.

VV Mineral Vaikundarajan believes that these are natural problems that need to be dealt with. Allegations against the company are complete fabrication and will lead to nothing.