In recent news reports on Business Standard, Economic Times, The Financial Express, Tamil Nadu Everyday and The Hindu, statements by the veterans of the beach mineral mining companies are inferring that the ban has caused immense damage to their reputation, the business, their revenues and also the employment opportunities for locals in Tamil Nadu. Mr. V. Subramanian, the managing partner at VV Minerals, India, said, “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.”
He spoke out about how the ban is leading to loss of the country’s forex to atleast Rs. 10,000 crore a year. According to him, beach mineral mining is replenishable and if our country does not conduct beach mineral mining then the rich mineral resources are carried away by waves to other nations like Sri Lanka which is leading to loss of natural resources of India.
Additionally, he mentioned how the ban on beach mineral mining has distressed the trust of their partners overseas because the Indian firms are losing their reputation. It is causing a loss of Rs. 300 crore per year to the State.
VV Minerals 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.
V.V. Mineral is a family grown business started by Mr. S Vaikundarajan, Founder, Chairman & Managing Director, VV Group.