Facts About The Ban Of Beach Mineral Mining In Tamil Nadu

Facts About The Ban Of Beach Mineral Mining In Tamil Nadu

One of the top beach mineral mining companies in India, VV Minerals spoke out about the ban on heavy mineral mining imposed by the Government for almost a year. There was an exclusive interview of the managing partner, Mr. V

Subramanian on DD Network, in which he stated that, “The local industry is nearly without job as a result of the ban that was effected in August last year. It has rendered joblessness to around 50,000 people including 15,000 of ours"

According to him, the country is loosing forex amounting to at least Rs 10,000 crore a year. Beach mining is ‘replenishable’, he said and in the absence of mining, such minerals are being carried away by sea waves and as a result, Sri Lanka, located further down, is reaping rich benefit at the cost of Indian industry.

He also added that the ban on mining is impacting Indian firms' reputation as trusted partners with customers overseas.

It is causing an annual loss of around Rs 300 crore to the state exchequer as well. And, The reopening of the mines could attract some few hundred crore of investment in the sector in Tamil Nadu VV Mineral is India's largest Mining, Manufacturer and Exporter of Garnet & Ilmenite. At the global level, VVM is poised to rise above the number two position.VVM is the first private Ilmenite Exporter in India.

V.V. Mineral is a family grown business started by Mr. S Vaikundarajan, Founder, Chairman & Managing Director, VV Group.

You can read more about this story at: Business Standard, The Hindu, Tamil Nadu, The Economic Times, Financial Express

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