India has the second largest thorium deposit in the world after Brazil. In the year 2002, the Atomic Minerals Directorate for Exploration and Research (AMDER) stated in a report in the Lok Sabha that there were 12.8 tonnes of thorium present in India. Later in 2012, there was a report presented to the Lok Sabha that stated that there were 10.7 tonnes of monazite on Indian beaches. Therefore, it can be concluded from these two reports that 2.1 tonnes of monazite, or approximately 235,000 tonnes of thorium, had gone missing in the intervening period.
This was the second claim that was made, where private manufacturers like VV Minerals were accused illegally hoarding this nuclear mineral. But, as mention in the DNA article published on April 28th by Jaideep Prabhu, although the Thorium reserves of India are the second largest deposits in the world, it is not rare in other parts of the world like Brazil. Therefore there is no need to illegally acquire it when it is abundantly available in various places.
Also, the amount that they claimed for the alleged scam of illegally exporting 235,000 tonnes does not make sense at all. Because, this much amount of thorium could possibly power India at present rated for approximately 700 years. The annual consumption of thorium is 4 tonnes annually. And the world consumption can be summed up to 10 tonnes. According to the statistics the IREL itself exports about 5 tonnes of monazite per annum.
Therefore, it is understandable, that the numbers quoted in this scam do not match up to the actual consumption. VV Minerals India is a highly recognized heavy mineral mining company in the world. It is family grown business started by Mr. S Vaikundarajan, Chairman of VV Group of companies. They are India’s biggest mining, manufacturers and exporters of Garnet. They have been awarded as the ‘Number One Garnet Exporters’ of our country. They also undertake Zircon mining, Rutile mining and Ilmenite mining.