VV Minerals India Explains What New Rules For Atomic Minerals

Will Mean For The Industry

The new mining laws have put private rare earth mineral sector in an uncertain position. With the industry raising their concern against the law, the Centre has decided to come out with rules

governing leases of atomic minerals.

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The rules will define the hold of private companies over mining, concession period the area given out on lease. The Union Mines Ministry will vet the rules defined the legal framework for minerals.

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To tackle health related issues faced by locals, the department of atomic energy will regulate minerals to check their radioactivity threshold.

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Tamil Nadu has 71 beach mineral mining leases covering an area of 700 hectares. However, industry association states that over 5000 hectares of land is pending application for beach minerals.

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In January 2007, certain minerals were delisted from atomic minerals category. However, the recent changes have listed ilmenite, rutile, zircon, leucoxene in atomic minerals despite being delisted in the earlier trend.

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During late 1980s, private companies obtained a no-objection certificate from the department of atomic

minerals to mine and produce garnet. Private companies can no longer mine garnet as it contains

monazite content which is a radioactive mineral. However, minerals with less than 1% monazite are

allowed to be mined.

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VV Mineral Mining is India’s largest garnet miner and exporter. “These minerals are used in ceramic and higher technology items. The origin of these minerals is traced to Western Ghats,” informs VV Minerals India. Kerala and Tamil Nadu are considered to be rich in heavy mineral reserves.

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For More Details Article Follow The Link

http://www.business-standard.com/article/economy-policy/new-rules-for-atomic-minerals-in-the-offing-115120100069_1.html

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