Mineral mining was a normal business practice on the beaches of Tamil Nadu. The ban on beach mineral mining since August 2013, however, has not only affected businesses but also the local industry that was dependent on mining for its basic income. Most of the population of these areas has been rendered jobless after the ban.
VV Minerals Managing Partner V Subramanian said.”The local industry is nearly without job as a result of the ban that was affected in August last year. It has rendered joblessness to around 50,000 people including 15,000 of ours.”
“The country is loosing forex amounting to at least Rs 10,000 crore a year,” he said. VV Mineral is one of the leading exporters of beach minerals in the country.
Tamil Nadu contributes to almost 85 per cent of the country’s total exports of garnet which amounts to 6.5 lakh tonnes of garnet and VV Mineral alone accounts enjoys 75 per cent of the beach mineral mining activity in the state.
“The ban on mining is impacting Indian firms’ reputation as trusted partners with customers overseas. It is causing an annual loss of around Rs 300 crore to the state exchequer as well,” said V Subramanian.
VV Mineral Vaikundarajan also commented on the benefit of the state, “Tamil Nadu can attract around few hundred crores of investments if the imposed ban is revoked. VV Minerals itself is hoping to invest Rs 300 crore for enhancing capacity of the existing facility.”