The Heavy Minerals Mining (HMM) industry in India is in a very promising stage. In an interaction with Financialexpress.com, V Subramanian, Director, VV Mineral, said there should be a logical policy that will boost booming industry.
According to research, excluding minerals like ilmenite, rutile and zircon in sand mining process could create about 5 lakh jobs and lead to big forex earnings. Following these results, Beach Sand Mineral industry has sought exclusion of these minerals. VV Minerals India founder and MD S Vaikundarajan said, “They are not used in atomic energy production and the Department of Atomic Energy (DAE) de-listed them from the list of prescribed substances with effect from January 1, 2007. But they have not been de-listed from the MMDR Act.”
V Subramanian, Director of VV Minerals spoke to Tribune India about heavy minerals market in India. “The market size of heavy minerals is around 1.2 million tonne worldwide and 700000 tonne in India,” he informs. Though India has 40% of world’s total reserve, the production contribution as compared to world market is less than 5%.
The following presentation talks about the Business Standard news story which was published on June 3, 2014, stating 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. It also provided information about their mining activities in India. They are the largest Ilmenite manufacturers and exporters in India. They are the first private ilmenite exporters of India. VV Minerals India has a huge market share in Europe, Middle East, East Asia, Australia and USA. They are based in Tamil Nadu and the company is owned by Mr. S. Vaikundarajan. Mr. V. Subramanian the Managing Director of VV Minerals, also spoke about a few challenges the industry currently faces.
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Vaikundarajan, Managing Director, VV Minerals, represented the Beach Sand Mineral (BSM) industry to seek the elimination of Ilmenite, Rutile, Leucoxene and Zircon, from the atomic minerals list of the Mines and Minerals (Development & Regulation) Act, 2015. Ilmenite, Rutile, Leucoxene and Zircon can be used in ceramics and hi-tech applications. Eliminating such minerals from the atomic minerals list of the MMDR Act, 2015 has the potential to create about 5 lakh jobs along with USD 1.8 billion in forex earnings.
In 2013, a ban on beach mineral mining was imposed in Tamil Nadu. This ban has severely hit the local industry and rendered many locals jobless, causing a huge loss to everyone in the process. VV Mineral’s Managing Partner, V Subramanian came strongly against the ban stating, “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. The country is losing forex amounting to at least Rs 10,000 crore a year.”
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The following presentation talks about The Economic Times story which was published on June 3, 2014, stating 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. It also provided information about their mining activities in India. They are the largest Ilmenite manufacturers and exporters in India. They are the first private ilmenite exporters of India. VV Minerals India has a huge market share in Europe, Middle East, East Asia, Australia and USA. They are based in Tamil Nadu and the company is owned by Mr. S. Vaikundarajan. Mr. V. Subramanian the Managing Director of VV Minerals, also spoke about a few challenges the industry currently faces.
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