VV Minerals Owned By S. Vaikundarajan, Talks About Ban On Mining Activities In Tamil Nadu

VV MINERALS OWNED BY S. VAIKUNDARAJAN, TALKS ABOUT BAN ON MINING ACTIVITIES IN TAMIL NADU -

THE ECONOMIC TIMES

Introduction

The Economic Times story which was published on June 3, 2014, stated that the leading industry player, VV Minerals feels that the ban on mining activities has led to the unemployment of 50,000 people in Tamil Nadu http://vvmineralblog.wordpress.com

Facts Stated In The Report  The ban on beach sand mining has been

implemented almost a year ago in August 2013  Top players like VV Minerals, India have shut

down operations since then  Around 15,000 employees of VV Minerals have

lost their jobs

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General Facts About Heavy Mineral Mining  VV Mineral is the country’s largest mining manufacturer and exporter of

garnet and ilmenite  Tamil Nadu is the largest contributor to the industry with about 85% of

the total exports of 6.5 lakh tonens of garnet  75% of the beach mineral mining in Tamil Nadu is conducted by VV

Mineral

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Statements By The Experts Valuable inputs by an eminent industry player, the Managing Director of VV Mineral, V. Subramanian enlightened the readers about the real challenges faced by the company and the industry overall.

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The Economic Times news report states that the chairman of VV Mineral, V. Subramanian declared the following facts: • The country is loosing forex amounting to at least Rs 10,000 crore a year • beach mining is ‘replenishable’; 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 • 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 • The reopening of the mines could attract some few hundred

“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" - V. Subramanian, Managing Partner, V. V. Minerals

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More about VV Mineral 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.

Established in 1989, the company have achieved significant market share in Europe, Middle East, East Asia, Australia and USA. V.V. Mineral is a family grown business started by Mr. S Vaikundarajan, Founder, Chairman & Managing Director, VV Group.

To know more about V. V. Mineral http://www.vvmineral.com/about.htm

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