World Nuclear Association estimates 300,000 tonnes of thorium deposit in India alone. However, recently thorium scam has been in the news for having been smuggled causing energy security in the country.
This accusation has been particularly directed towards Vaikundarajan, founder of VV Minerals India. It is a known fact that the company operates extensively in the southern Tamil Nadu with legal licenses issued by Indian Bureau of Mines.
Established in late 1980s, the company has been in the mining business with several national awards to its name. The company is recognized for being the first in the industry to export ilmenite along with elements like thorium and zircon.
V Sundaram, a former IAS officer has written a letter to government accusing the company of amassing 96,000 Crore rupees through illegal mining. Following this allegation, an investigating team was set in place to look into the matter. When the results turned out to be in favour of the company, Sundaram demanded a CBI inquiry.
While there is no evidence in sight, thorium scam is another shot in the dark to malign the reputation of companies like VV Minerals Vaikundarajan, who is mostly known to be media shy, has come out and defended the company’s operations as ethical and legal. VV Mineral loyalists too have come out strongly in support of the company.
Whether the thorium scam holds any substance or not remains to be seen. VV Mineral Vaikundarajan and co believe the balance will be tilted in their favour.