VV Mineral Mining Criticizes Baseless Thorium Scam Allegations Against Company

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VV Mineral Mining Criticizes Baseless Thorium
Scam Allegations Against Company
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World Nuclear Association (WNA), a global body of
nuclear industry, reported that India hosts up to
3,00,000 tonnes of Thorium deposit.
Unfortunately, the beach minerals in India have
seen a significant decline in the last few years.
Going by the reports, close to 2,00,000 tonnes of
Thorium Oxide stands missing in India.
Additionally, monazite quantity along the Indian
coastline has seen a decrease by more than 2.1
million tonnes.
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It is a known fact that VV Minerals India is one
of the largest producer of Garnet an Ilmenite.
When the reports of missing Thorium Oxide were
circulated, naturally, fingers were pointed at
one of the biggest exporters in India. The
company finds itself surrounded by allegations
concerning illegal beach sand mining as
stakeholders scrutinize a possible scam.
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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, said Vaikundarajan,
founder of VV Minerals India. It is practically
impossible for one company to pull off a scam of
such extent. This allegation against VV Minerals
is a plot by business rivals, he adds.
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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 Ministers 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.
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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.
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The State Government has set up an investigation
team to look into the matter. Meanwhile, VV
Mineral Vaikundarajan has openly supported the
investigation and believes that the results will
be in the companys favour.
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