V. V. Mineral: Achievements and Recognitions

A practice to extract rare earth minerals through mining process from open pits, beaches, river beds etc. is known as sand mining. These rare earth minerals consist of 17 chemical elements. These rare earth minerals generally consist of elements like ilmenite, rutile, garnet, zircon, sillimanite, leucoxene and monazite. They are used in manufacturing consumer products and high tech applications.

Established in 1989, V. V. Mineral (VVM) is the largest manufacturer and exporter of rare earth minerals – ilmenite and granet. It is the first private ilmenite exporter in india. VVM have achieved noteworthy market share in Europe, the USA, Australia, East Asia and Middle East. VVM’s annual output is 7, 00,000 metric tonnes of heavy minerals, which includes garnet abrasive, ilmenite, zircon, rutile, sillimanite and leucoxene. VVM has been awarded with quite a number of awards. 

List of Achievements and Recognitions:

1.       CAPEXIL Top / SPECIAL EXPORT AWARD:

VVM has been awarded “Special Export Award” by the Government of India (Ministry of Commerce), CAPEXIL (Chemicals & Allied Products Export Promotion Council) consecutively for 21 years from 1990-1991 to 2009-2010 and VVM got “ Top Export Award” from CAPEXIL for the year 2010-11 and for the best export performance during the same year. This is yet another milestone of VVM History.

2.       INDIAN CHAMBER OF COMMERCE AWARD

VVM has been receiving the Best Exporter Award from the INDIAN CHAMBER OF COMMERCE AND INDUSTRY – TUTICORIN for the past 12 years since 2000 onwards.

3.       NATIONAL PRODUCTIVITY AWARD :

For the achievement of the highest productivity and quality - VVM got “National Productivity Award” from the National Productivity Council – New Delhi –presented by the then President of India Dr. K.R. Narayanan during the year 2000. This is one more feather in the cap of VVM.

4.        MADITSSIA AWARD

“MADITSSIA – VISVESWARAYA AWARD” has been awarded several times for the Best Organization and Industry in the Southern Districts of TAMILNADU.

5.       IMS ( Integrated Management System)

IMS Certificate from TUV Germany by getting ISO 9001:2008, ISO 14001, OHSAS 18001 in April 2011.

6.       Best Exporter Award from EPCES – Govt. of India.

Best Exporter Award from EPCES (Export Promotion Council for EOUs & SEZs) Ministry of Commerce & Industry, Govt. of India consecutively for the past three years for the highest volume of export in EOU.

CSR initiatives taken by VV Mineral

Established in 1989, V.V. Mineral is India's largest Manufacturer and Exporter of Garnet & Ilmenite. V. V. Mineral was founded by Mr. S.Vaikundarajan, Chairman and Managing Director. The company's selfless expression in every minute detail is revealed in their approach to issues involving social responsibility.

VV Mineral does a lot for the society, especially for the schools as a part of their CSR initiative

1. To collect the requirements from school and our localities

2. Order materials as per their requirements

3. Distribute all required things to schools and students.

4. Conduct medical camp in required villages and find out health issues of 

    Participants

5. Arrange further treatment in our health centre at free of cost.

a)      VVM’s CSR program will enhance the education level which will be useful for those parents who can't afford to educate their children. VVM distribute Notebooks every year by collecting the data’s from the localities and fulfil their requirements.

b)      Normally, the other company will give money to the needy /poor students to go to school. But many parents will use that money for their own purpose instead of sending the children to school. So VVM decided to buy notebooks & stationeries and give it to the needy students directly in school.

VV Mineral – a socially Responsible Organization

To begin with VVM had initially started with issuing free note books to the underprivileged and needy students in and around of processing plant area and other required areas too.

After the successful completion of this activity every year, VVM has done the following new projects as well subsequently in part of our corporate social responsibility

a)      Free medical camp in the villages

b)     Free medical treatment through our VV Health Centre

c)      Interest free loan to coastal village women to motivate them to start self group industry

d)     Construct compound wall to required school

e)      Free Land issued to construction of Water tank in Navalady village, Radhapuram Taluk

f)    Free Land issued to construction of Community Hall for conducting functions, events by village with free of cost.

g)      Free solar lamp provided to college students

h)     Free toilet facility provided to village people

It doesn’t end here. The company has given a ray of hope to a lot of children by sponsoring their education. It’s rare to see companies indulge in such activities and also doing it so humbly that the world is unaware of their good deeds. It’s organizations like these that make world a better place to be!

Rare Earth Minerals and its usage

A mineral that contains one or more rare earth elements as major metal constituents is known as Rare Earth Mineral or Rare Earth Elements (REE). These elements are a set of seventeen chemical elements. These rare earth elements occur together in the periodic table. These minerals are found in the earth’s crust and are extensively used in consumer products.

These minerals are further categorized into two types :

1. Light Rare Earth Minerals and

2. Heavy Rare Earth Minerals.

In India, VV Mineral is one of amongst the largest Manufacturer and Exporter of Garnet & Ilmenite. Globally, VV Mineral is poised to rise to the number one position. VV Mineral is the first private Ilmenite Exporter in India.

These minerals are used in manufacturing various consumer products i.e. Electronic Devices, Clean Technologies, Defence, Advanced Communications and Healthcare. Rare earth elements are crucial to maintaining our current lifestyle and economy as well as build a strong and sustainable future. 

Refer the infographic below for further details : 

V. V. Minerals Expands Operations To Odisha

V. V. Minerals is planning for excavation and refining of the mineral in Odisha. The investment of this project is estimated to be around Rs 100 crores.

V. V. Minerals is a Tamil Nadu-based mining firm having largest market share in ilmenite production and exports, and one of the largest Indian companies in the sand mining business.

“We are planning to apply for 2-3 areas in Odisha for excavating ilmenite and garnet. We will also invest Rs 75 crore to 100 crore for establishing a mineral refining plant in the state,” said V Subramaniun, director of the firm. VVM is the first private exporter of ilmenite and is the leading manufacturer and exporter of the mineral.

 “Production of ilmenite has been slow in India due to tough regulations and limited awareness about it. The government must change its position on the mineral,” added Subramaniun.

“Along with the tough regulations, the processing of lease grant should be made faster if we want to tap its potential because apart from exports, the mineral will be in huge demand from domestic market in future,” said the V. V. Mineral official.

Ilmenite is upgraded to titanium dioxide to be used in consumer goods like paper, plastic, paint colour and cosmetic industries such as sunscreen. The proposal of V. V. Minerals is strategically important as Kolkata-based Saraf Agencies Private Ltd (SAPL) is constructing a titanium slag plant near Gopalpur with an investment of Rs 250 crore. These plants use ilmenite as feedstock.      

Taxes leading to reduced GDP from mining: Sanjay Pattnaik

At the annual general meeting of Federation of Indian Mineral Industries (FIMI), Sanjay Pattnaik, Executive Director of Tata Sponge Iron (TSIL), was elected as the national president of the body.

An excerpt from his interview in the meeting:

What are the challenges before the industry?

Mining involves numerous stakeholders, and hence, its revival depends on strong coordination not only between miners and the government, but also among the state and central governments.

Foremost of all, the annual cap of 30 MT imposed by the Supreme Court needs to be removed to allow the industry to grow.

India has the highest tax rates on minerals in the world. Effective tax-rate, the ratio of value of all amounts paid to the government to value of profits before taxes, is approximately 69% for operating mines in India compared to resource-rich nations like Canada (34%), Australia (40%), and South Africa (40%).

In addition to royalty, miners have to make several other payments such as DMF (30% on royalty for existing mines and 10% on royalty for auctioned mines), NMET-National Mineral Exploration Trust (2% on royalty), service tax (15% on royalty), sales tax, environment and forest levies, and other cess/taxes by local institutions, panchayats, etc.

These taxes make the domestic raw materials costly and unviable for manufacturing, leading to imports and reduced GDP from mining.

In another interview with the beach mining tycoon, Vaikundarajan, the MD and CEO of the largest beach mining company in India - V. V. Minerals, he had echoed the same thoughts. Obviously, even the beach and sand mining companies face the same issues with the policies of the government.

50 Villages In Ajmer On Development Road, Says Vaikundarajan

Over 50 villages in the district of Ajmer have been identified by the local authorities as mining-affected areas. The managing committee of Mineral Foundation Trust found that these villages suffer heavily due to lack of health and educational reforms. The villages are not connected by good roads and there is a shortage of drinking water. “To curb these problems, the managing committee will issue a programme where 10% of the royalty on minerals will be dedicated to the betterment of the villages,” informs Vaikundarajan, founder of VV Minerals India.

Ajmer is known to be the leading mining regions in the state for quartz, phosphorous, lead, building stones and similar minerals. Most villagers here work in the mines. The shortage of water affects the health of villagers and children in a great way. At this point, setting up a programme to improve the lifestyle of villagers and get them the basic requirements is the need of the hour.

“Taking all of this into consideration, the district administration has proposed ways to improve the health facilities, pollution control system and school education for children. The proposal will be presented to the council of the foundation,” adds Vaikundarajan. 

Underuse of Rare Earth Minerals

As per industry reports, the rare earth industry in India is underused and lies wasted. The Indian Rare Earth Industry is worth Rs. 90,000 crore of annual turnover.

As per estimates by Beach Minerals Producers Association, the industry can net a capital employment of about Rs 121,000 crore.

The rare earths found in India are one of the most significant ones. Collectively called Beach Sand Minerals (BSM), they include Ilmenite, Sillimanite, Garnet, Zircon, Monazite and Rutile and amount for almost 35 per cent of the world’s total beach sand mineral deposits.

"In 1998, they started freeing up the industry and in 2006, those minerals were taken off the prescribed substances list and for some reason, they have recently been put back on. So, the country has actually gone backwards. There is no justification," said Grant Smith, director-overseas operations at V. V. Minerals. "No one is getting the licences. It has been reserved specifically for PSUs through the DAE (department of atomic energy). So, at the moment, it is only the IndiaRare Earths and the Kerala operations."

"There is a perception here in India that monazite is an atomic mineral. It is actually not. Monazite is just a mineral that contains thorium and very very small amounts of uranium. But the major constituent in monazite is rare earth," said Smith. "In today’s world, China controls over 95 per cent of the rare earth market. India is not realizing any potential. You have to separate the mineral monazite from its constituents. None of the other rare earths have any thorium in them. They are associated in the ore body but not in the actual mineral."

C Swamydas, chief advisor for V V Minerals, said that proposals have been given to take on all the cost of setting up the plant, and even pay to let the atomic energy department put its own people process monazite. He added that, "We shall give the thorium (produced) to the government for free. They can store it for future use."

Though there is so much potential and scope, the industry lacks clear policies for beach and sand mining. This results in unclear rules and misleading on allegations of illegal sand mining beach mining companies.

Goa Government Lifts Mining Transportation Ban

In a positive move for the mining industry, the Goa government has finally permitted the state mining industry to resume its operation in Goa. “The Goa government had restricted mining operation due to monsoons. With the monsoons behind us, mining industry can resume its operations,” says Vaikundarajan, founder of VV Minerals India, one of the largest sand beach mining companies in India.

Mining operations should be in full swing by the start of October. Prasanna Acharya, director of Mines and Geology, issued a statement informing the mining companies of the ban having been lifted.

The transportation of mineral by road was banned in the interest of public safety after some accidents on the main road came to light. On the request of locals, the government decided to ban transportation of minerals till monsoon had rescinded.

“Public safety is of utmost importance. With the lack of mining transportation roads in Goa, the trucks took to main road. A couple of accidents were reported by locals and the government was quick to take an action. Transportation was suspended till monsoon was over. The government also plans to construct a dedicated road for mining transportation,” says Vaikundarajan.

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.

Mining Scam Allegations Against VV Mineral Surface Without Any Proof

VV Minerals is the largest producer and exporter of Garnet and Ilmenite minerals in India. Founded in the late 1980s by S Vaikundarajan, the company has established itself as one of the leading sand beach mining companies in the country. However, the efforts of two decades have been jeopardised by the recent allegations of illegal mining against the company.

The allegations were further aggravated when V Sundaram, the first district collector of Tirunelveli, sent a letter to the Chief Secretary of Tamil Nadu. The letter targeted VV Mineral and accused it of amassing several crore rupees through illegal sand beach mining.

The director of VV Mineral Mining, V Subramanian, dismissed all the allegations as a conspiracy theory against the company. “Sundaram is passing this as a cruel joke. He is on the payroll of our business rival... Our hands are clear. We will come out clear from these allegations. Our records are straight,” Ravindram Duraiswami, advocate for VV Mineral told NDTV.

V Subramanian Speaks On The Growth Of Heavy Minerals Industry

VV Mineral, one of the largest exporters of beach minerals in India, was founded by  VV Mineral Vaikundarajan in the late 1980s. It has won several national awards for its contribution to the export business. In an interview with Governance Today, V Subramanian speaks on India’s position in the global market and its growth.

Governance Today: What is the size of heavy minerals market in India?

V Subramanian: India has nearly 35% of world deposits but contributes only 4% of global production. The total beach sand resources in India are 942.58 million tonnes comprising of Ilmenite, Zircon, Rutile, Garnet, Sillimanite and Leucoxene.

Governance Today: How much does heavy minerals constitute in the total mining done in India?

V Subramanian: A paltry two per cent of the entire mining is done in India. Although India possesses the world’s largest reserves of heavy mineral sands at 25%-28%, its exploitation is very low at 5%- 6%.

Governance Today: What is the utility of the minerals and how are they important for Indian economy?

V Subramanian: Heavy minerals have a critical application in industries such as electronics, ceramics, pigments, paints, paper, plastics, pharmaceuticals, aerospace and defence. As you can see, they are important for our economy as they contribute to a large number of industries.

Governance Today: What are the major policy bottlenecks that are affecting industry growth despite the scope?

V Subramanian: Private sector gained entry in the market only 3 decades ago. The sector is growing and needs government’s support and backing. Some of the policy bottlenecks responsible holding us back are:

• Mining and processing clearance is a long procedure with 18 government agencies involved
• Ministry of Environment and Forest has 30 conditions in place for clearing mining. Some of them are impracticable
• CRZ requirements are not in favour of beach mineral industry
• Export licenses are to be renewed every year

Governance Today: What are the opportunities in this sector?

V Subramanian: We have an opportunity to benefit nearly 30,000 crore to the exchequer. The growth of mining industry will be a boost to India’s GDP. Private companies contribute about 5% of the world’s heavy mineral production. With the government’ support, this number can go up to 50% of the world’s production.

Governance Today: Where do you foresee this industry in next five years?

V Subramanian: The industry has a potential to grow up to 30-50 per cent in the next five years.

Governance Today: What is your annual output of heavy minerals each year in India?

V Subramanian: We export close to 7,00,000 tonnes of heavy minerals each year which is valued at Rs 850 crores approximately.

Governance Today: What is the infrastructure of VV Minerals and who are its close competitors?

V Subramanian: VV Mineral owns about 9 Mineral separation plants with each dry plant having its own pre-concentration plants, a huge fleet of trucks and earth moving equipment, 12 warehouses with a storage capacity of 600,000 tonnes, a full-fledged R&D Department, Exploration team with Drill Rig, Centralised laboratory and first of its kind Ship loader (which can load 21,000 tonnes/ day). We have few fellow mineral producers in India, namely Indian Rare Earth (Government of India), Trimex Sands, Indian Ocean Garnet Sands, and few other small companies.

Governance Today: What support do you need for developing heavy minerals mining in India?

VSubramanian: Quick clearance for the mining industry

• Export incentives that allow India to be a competitive player in global market
• Restrictive import policy 
• Simplification in process for MoEF as well as CRZ clearances

Lastly, there is not a single large scale independent mine operating in free market conditions in India. Ironically, the fallout of the restrictions imposed by has resulted in benefiting China which controls 90 per cent of the industry.

None Of the Allegations Against Company Are True, Says VV Minerals India

VV Minerals India has made a name for itself in the sand mining industry. It has won several national awards for its contribution to the export business. It is also the largest manufacturer and exporter of Garnet and Ilmenite in India. The company was established by VV mineral Vaikundarajan in the late 1980s and has grown under his tutelage. However, the recent scam surrounding illegal beach sand mining has put the company’s reputation at stake.

Following the allegations, the district collector of Tuticorin in Tamil Nadu, Ashish Kumar conducted a raid on VV Mineral warehouse. The raid was unsuccessful and Ashish Kumar received the marching orders. His previous assignment lasted only 45 days. VV Mineral Vaikundarajan was accused of using his political influence to initiate the transfer.

The company is further accused of exporting Thorium, a strategic nuclear fuel that is banned from exporting. VV Mineral Vaikundarajan cleared the controversy stating that the technology to separate Monazite from Ilmenite in sand doesn’t exist. The company is still seeking permission from the government to set up a plant for separating Monazite and Thorium from Ilmenite.

VV Minerals Denies Charges Of Illegal Monazite Mining

Periyasamypuram in Tuticorin district, Tamil Nadu, has been the centre of storm for last few years, because of the numerous raids conducted on suspicion of illegal beach mining.

On January 23, 2013, a PIL was filed to be heard in the Madras High Court (HC), asking the court to form a Special Investigation Team (SIT) to probe illegal beach sand mining. The PIL alleged that rare beach sand minerals worth Rs 1 lakh crore have been illegally exported out of the country. The PIL mentions the set of mining licences issued by the Tamil Nadu Geology and Mining Department to VV Minerals based in Tirunelveli, Tamil Nadu. These licences authorise the private company to mine and export monazite.

Monazite is an atomic mineral found in the beach sands of the southern and eastern coasts of the country. Minerals found in the sands of these beaches along with Monazite include Ilmenite, Rutile, Zircon and Garnet. Monazite can be processed to remove Thorium and Uranium, both of which are nuclear fuels. The Tamil Nadu government has approved licences to VV Mineral Mining to mine Monazite. VV Mineral is the largest player in the country in the rare earths space. These approvals were issued by the centre in 2002-03.

VV Minerals India chairman has mentioned a number of times that various committees had probed the area and found no evidence of illegal heavy mineral mining. He denied charges of illegal Monazite mining and exports. "Look at the documents, they are only inclusion of minerals," said VV Mineral.

"The state can include minerals to the original lease. There is no illegality. In fact, we are the only company to have environmental clearances for all our quarries," VV Minerals.

There have also been allegations of environmental and health issues, especially kidney ailments, plaguing the residents living along Tamil Nadu's southern coastline, but there is no substantial information to establish any link between kidney ailments and mining.

Beach Sand Mining Scam Worth Rs 1 Lakh Crore In Tamil Nadu

Outrage has become a common way of life in the village of Periyasamypuram in Tuticorin district, Tamil Nadu. The locals took the law in their hands by holding hostage a sand mining truck of VV Minerals as it was preparing to leave for a delivery. They also battered the driver before letting him go. The police inspector of Surangudi and the village administrative officer rushed to the spot and tried to talk sense into the villagers, but they did not budge.

VV Minerals India is one of the largest sand mining companies in India. VV Mineral Vaikundarajan, is of the belief that the people are being fed deceptive information and forced to do such publicity stunts. A PIL alleges that rare beach sand minerals worth Rs 1 lakh crore have been illegally exported out of the country. VV Minerals, being one of the largest sand manufacturers and exporters, has been purportedly framed in this case.

VV Mineral Mining is legally authorised to manufacture and export Garnet with 1% cent Monazite content as presently no one in India has the technical support for the separation of Monazite. The Managing Director of VV Mineral said that the company has never gone beyond the one per cent threshold for Monazite while exporting Garnet. Garnet is the core product of VV Minerals and it is the largest exporter of Garnet in the country.

VV Mineral Has No Aide From Any Politician

In the wake of elections in the state of Tamil Nadu, old allegations are being given a new twist altogether. To believe the rumours, VV Mineral Vaikundarajan is the owner of a company in which Jayalalitha has invested her black money. 

Desperate times call for desperate measures, and this time around the opposition got too desperate to point a finger at Jayalalitha, the expected winner of the 2016 Tamil Nadu elections. The rumours on VV Mineral, the family business of S Vaikundarajan, are the favourite talk of the town for the people of Tamil Nadu. So, it might have seemed easy to link them and fool the common man. But the assumption itself seems preposterous in the first place.

Further theories also suggest that Jayalalitha has been helping Vaikundarajan throughout all the controversies that surround VV Minerals. Apparently, these financial links between Vaikundarajan and Jayalalitha have been traced by the Arvind Kejriwal led Aam Aadmi Party. Well, such a revelation coming from opposition just before the elections in itself says quite a lot about the nature of information being given to the common man.

But, this is not just where it ends. AAP has also alleged that Jayalalitha is also involved in the illegal beach mining going on in Tamil Nadu and VV Minerals India is linked to it.

VV Mineral Mining is the largest beach-mining company in India. It specialises in the mining, production and export of Garnet and Ilmenite. The company is booming under the leadership of the young Managing Director.

We Have The Legal Documents To Mine And Export VV Minerals India

One of the leading sand beach mining companies in the country, VV Minerals India was founded by S Vaikundarajan in the late 1980s. Under his leadership, the company has won several national awards for its contribution to the export business.

In the wake of recent illegal beach sand mining allegations, the company has found itself under harsh criticism and scrutiny. The company’s hard earned reputation hangs by a thin thread despite no substantial proof to support any allegations. VV Mineral Vaikundarajan, however, insists that the company has operated within legal boundaries for over two decades. He further states that the allegation is a plot by competitors to defame the company.

An investigation team was set up by the then Chief Minister Jayalalitha to probe in to the matter concerning five districts across Tamil Nadu. IAS Officer Gagandeep Singh Bedi was appointed the chief of this special investigation team.

Thorium Scam Not A Reality - VV Mineral Mining

As reported by World Nuclear Association (WNA), the global body of nuclear industry, India hosts 3,00,000 tonnes of Thorium deposit. However, recent studies suggest that these beach minerals have seen depletion compared to past records. It is estimated that close to 2,00,000 tonnes of Thorium Oxide is missing from India. Monazite quantity along the Indian coastline has also seen a decrease by more than 2.1 million tonnes.

VV Minerals is known to be the largest firm producing Garnet and Ilmenite. The spotlight has suddenly moved to the company as stakeholders have begun scrutinizing a possible scam. Chairman, founder of VV Minerals India was quick to refute all allegations. “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,” he added.

To pull off a scam of such extent seems practically impossible for one company. In this scenario, S VV Mineral Vaikundarajan explanation seems more realistic. India is under the threat of losing its thorium rich status due to the rising water-level caused from global warming.

V Narayanasamy, Minister of State in the Prime Minister’s Office in Lok Sabha was quoted, “Indian Rare Earths Ltd (IREL), a public sector undertaking under the Department of Atomic Energy (DAE), is the only company exporting Monazite. Ilmenite, Rutile, Leucoxene, Garnet, Sillimanite and Zircon are separated from beach sands and these individual heavy minerals — free of Monazite — are being exported. 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.

Following the scam allegations, the State Government has set up an investigation team to look into the matter. VV Mineral Mining involvement in the scam is yet to be proved. Meanwhile, VV Mineral Vaikundarajan has openly supported the investigating committee and believes that the results will be in favour of the company.