The World Nuclear Association stated that India has seen a considerable decline in the amount of thorium deposits. The beach Minerals have depleted from 300000 tonnes to 200000 tonnes across the Indian Coastline. Monazite quantity has also decreased by more than 2.1 million tonnes.
Being the largest producer of Garnet and Ilmenite, VV Minerals is being scrutinised by the stake holders. However, S Vaikundarajan, founder of VV Minerals stated, “The mineral rich sand is getting washed away from the Indian coastline in the absence of mining, and as a result, Sri Lanka, located further down, is reaping rich benefits at the cost of Indian industry.”
To pull off a scam of such extent is impossible for one company alone. Due to global warming, the rising water level is causing a lot of problems across the world. With the water moving in on the shores, India may lose a lot of mineral reserves. Soon, India may also lose its Thorium rich status.
Indian Rare Earths Ltd (IREL), a public sector undertaking under the Department of Atomic Energy (DAE), is the only company exporting Monazite said V Narayanasamy, Minister of State in the Prime Minister’s Office (PMO), to the Lok Sabha, on November 30, 2011. Monazite is a source of Thorium.
“Ilmenite, Rutile, Leucoxene, Garnet, Sillimanite and Zircon are separated from beach sands and these individual heavy minerals — free of Monazite — are being exported.” said the Minister.
No licence or permission is required from DAE for these substances due to the delisting of Ilmenite, Rutile, Zircon, etc. from the list of prescribed substances, said V Narayanasamy.
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