A favorable change is needed for the mining industr y
Ilmenite reserves in India are in abundance along the beach coast. It is estimated to be around 348 million tonnes. http://vvmineralblog.wordpress.com
In India ilmenite accounts for about 24.85 per cent of the global reserves, which are estimated at around 1,400 million tonnes but,this is just 6% of total world’s ilmenite production. However, the bulk of ilmenite reserves in terms of titanium dioxide percentage is inferior compared to those occurring worldwide.
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Given the amount of ilmenite reserves in India if utilized to the optimum level can reap great benefits. This can only happen with suitable help from the government. http://vvmineralmining.wordpress.com
One problem that continues to come in way of exports of minerals is taxation. The Ministry of Finance levies 10 per cent export duty on the sale of unprocessed ilmenite and a five per cent export duty on upgraded ilmenite. This adds to the cost and lead to unfavorable trade conditions http://vvmineral-mining.blogspot.in
Technology plays a very important role in the production of ilmenite. In India technology is a barrier and discourages adoption of new and efficient methods. Moreover, power tariffs are not reasonable which again lead to increased costs for companies like VV Minerals http://vvmineralmining.blogspot.in
All these situations are a barrier to the mining industry. Private companies like VV Minerals have to suffer because of this http://vvmineralblog.wordpress.com
VV Minerals, one of the major exporters of ilmenite has been into this business for quite long and it seems like nothing has changed over the years. A new shift needs to come in to foster this industry http://vvmineral.wordpress.com
When India is bestowed with such valuable resources then it is better that these resources are utilized to the optimum value to give our country benefits out of it. For this to happen the Government will have to extend its support to the private Companies like VV Minerals and create a favorable trade situation http://vvmineralmining.wordpress.com
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