VV Minerals boss says canalisation will hurt mineral sand miners

ax raids VV Minerals is fighting legal cases relating to the alleged illegal mining of mineral sands, the alleged illegal export of monazite and a tax raid carried out by the national tax body late last year. In total, he says, the authorities seized 34.8 million rupees, an amount that Vaikundarajan described as “not excessive” given the number of business units associated with VV Minerals as well as the fact that everyday business transactions in India are often conducted in cash. While the report “found stocks of tailings containing elevated amounts of monazite as expected in mineral sands operations worldwide, all were stored as required by the Atomic Energy Regulatory Board,” Vaikundarajan said.Monazite is a controlled material in India due to its thorium content.