World Nuclear Association (WNA), a global body of nuclear industry, reported that India hosts up to 3,00,000 tonnes of Thorium deposit. Unfortunately, the beach minerals in India have seen a significant decline in the last few years. Going by the reports, close to 2,00,000 tonnes of Thorium Oxide stands missing in India. Additionally, monazite quantity along the Indian coastline has seen a decrease by more than 2.1 million tonnes.
It is a known fact that VV Minerals India is one of the largest producer of Garnet an Ilmenite. When the reports of missing Thorium Oxide were circulated, naturally, fingers were pointed at one of the biggest exporters in India. The company finds itself surrounded by allegations concerning illegal beach mining as stakeholders scrutinize a possible scam. “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,” said VV Mineral Vaikudnarajan. “It is practically impossible for one company to pull off a scam of such extent. This allegation against VV Minerals is a plot by business rivals,” he adds.