Consequences Of Shutting Down The Heavy Mineral Mining Industry in India

Consequences Of Shutting Down The Heavy Mineral Mining Industry in India

The heavy mineral mining industry in India contributes to about 3,500 crore in foreign exchange to the national economy. However, the government does not fully support this industry. The probable reason for this is the misconception people have about this industry. Many times it is confused with the river sand mining industry. River sand mining is extraction of sand for using it in the construction business or other sectors where you need raw sand. However, heavy mineral mining is not the same; it includes extraction of

minerals from the sand after which the sand is refilled on the beaches, without causing any harm to the environment.

If the government does not extend its support, the industry will crumble. The demand of the products in the international markets will keep on rising but supply won’t be sufficient, which will further impact the domestic markets. There will be a rise in the import costs because of heavy reliability on imports for domestic needs.

Illegal beach mining includes mining of raw sand for the purpose of construction and other uses without taking necessary permissions from the government authorities. It may also include mining of minerals from the sand for which the Government has not granted license.

Since, the Chinese markets have support from their government they are constantly supplying the products to Indian markets. There are four companies in India that deal with TiO2 production. Very soon the Indian companies will not be able to compete with the Chinese exporters and hence will have to shut down.

And the fact that their products are priced lower than the Indian products is because of the lower export duty they pay to their government. The impact of this strict and unnecessary action by the Government without proper investigation will not be seen now. It takes a long while to create and grow any industry. And as illegitimate as it seems, it is completely the

opposite. This industry is highly regulated by the Central as well as the State Governments. They have high excise duties to be paid to the Government. It provides development and employment to thousands of people in the coastal areas of Tamil Nadu who are unemployed for the most of the year because of no fishing activities in off season.

VV Minerals, India is one of the leading heavy mineral mining companies of India. They deal with zircon mining, rutile mining, garnet mining and ilmenite mining. No minerals other than these four which are granted by the Government are mined by this company. They are the largest heavy mineral mining company in India; they contribute highly to the nation’s economy. The company is owned by Mr. S. Vaikundarajan.

It is a family grown business, with Mr. S. Vaikundarajan as the chairman and managing director of the company. Other members who make up the team of managing directors include Mr. V. Subramanian, Mr. J Mutuhurajan and Mr. Jegatheesan.

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