Leading heavy mineral mining companies like VV Mineral, India, based in Tamil Nadu are suffering grave losses because of the ban by the government. A top professional mining body has suggested that the new policies should make sure that mining will be given preference in mineral rich areas whether owned by government, private of taken illegally by locals.
Simply claiming ownership on lands which are mineral rich and not allowing the development of such minerals is hampering the state and centrals revenue potential. A recent news article in Economic Times also suggests that since the mining activity is site specific the government should be in power to vacate any illegally occupied mineral bearing land and hand it over to lease holders.
The Mining Engineers Association of India has also recommended that if the mineral bearing land is traded to third parties it should be considered to be an offence. Hopefully this should ensure the lease holders a good opportunity to grow in this field. Ultimately, private heavy mineral companies like VV Mineral, Vaikundarajan should benefit from this change in mining policy.