Local Industry Suffering From Mining Ban, Says V Subramanian

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Local Industry Suffering From Mining Ban, Says V
Subramanian
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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.
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VV Minerals 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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VV Minerals was established by S Vaikundarajan in
late 1980s and is countrys largest mining,
manufacturer and exporter of garnet and ilmenite.
The ban was imposed by government in five coastal
districts following complaints of illegal mining.
Following these allegations, an inquiry committee
was set in place.
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Sand beach mining from coastal states contains
minerals such as garnet, ilmenite, rutile, zircon
and sillimanite used in varied areas such as
aircraft and paper industries.
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V Subramanian Of VV Minerals India informs that
Tamil Nadu is crucial for beach mining as it
contributes to 85 of countrys total exports of
6.5 lakh tonnes of garnet. 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, he said.
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He further explains that the ban is affecting
Indian firms reputation in global market. It is
causing an annual loss of around Rs 300 crore to
the state exchequer as well," Subramanian said.
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VV Minerals is likely to invest Rs 300 crore for
enhancing capacity of value addition in the
existing facility. In the wake of mining ban,
Subramanian informs, The reopening of the mines
could attract some few hundred crore of
investment in the sector in Tamil Nadu.
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