Varun Industries to sell rare earth mined from its Madagascar Blocks to India - Economic Times

Varun Industries to sell rare earth mined from its Madagascar Blocks to India - Economic Times: "NEW DELHI: Close on the heels of the discovery of large reserves of uranium in Andhra Pradesh, the government moved a step closer to boosting its supplies of heavy minerals by signing a purchase agreement with Varun Industries."

Why do I feel so sad?

Varun Energy Corporation, a Madagascar unit of the Mumbai-based Varun Industries on Friday agreed to sell all its heavy minerals concentrate mined from its blocks in Madagascar, to the department of atomic energy.

Varun had recently announced a discovery of 266.8 million tonnes of heavy minerals, which includes critical rare earth used by the technology industry and titanium minerals, from its 10 blocks in Madagascar. Varun has the exploratory and mining rights over the rare earth blocks in the African country.


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