3 days ago
- Business
- New Indian Express
IREL may buy seized beach sand minerals for Rs 400 crore as per Madras HC order
THOOTHUKUDI: As the centre's IREL India Limited functioning in Manavalakurichi had agreed to procure the beach sand minerals seized by the Tamil Nadu government at a cost of Rs 241 per tonne for raw sand and semi-processed sand; and Rs 2,416 per tonne for processed minerals, TN officials have initiated the process to hand over the heavy minerals under seizure in private godowns and stockyards as per the orders of the Madras High Court dated February 17, 2025.
Besides ordering CBI investigation into the mining scam, the HC had ordered to recover Rs 5,832 crore from eight mining companies for causing revenue loss to the state exchequer and to shift the existing 1.40 crore tonnes of beach sand and processed minerals to IREL India Limited.
However, a few of the mining barons had obtained a 'status quo' order from SC, restraining officials from shifting the minerals to the IREL premises at Manavalakurichi in Kanniyakumari district.
The TN Natural Resources department had issued a G.O. on April 18, based on the HC order, to hand over the seized minerals stored in Thoothukudi, Tirunelveli and Kanniyakumari to IREL India limited.
