KOCHI: The Cochin Minerals and Rutile Pvt Ltd (CMRL) on Friday said it was forced to import 13,500 tonnes of ilmenite - a titanium-iron oxide mineral - to sustain production. A ship, MV Nelson, docked at Cochin Port on Thursday with the mineral for the company. This is the second time CMRL is importing the raw material. In the current scenario, Kerala PSU Indian Rare Earths (IRE) Ltd is licensed to extract this mineral and supply to Travancore Titanium Products (TTL) and CMRL. However, their prices are higher than the import prices forcing these companies to import it.
"Despite having a capacity to extract 2 lakh tonnes, IRE has not been functioning to even half of its capacity. To top that, the PSU has increased the prices by over 65 per cent," said CMRL in the release.
Till date, CMRL has imported ilmenite worth `200 crore resulting in a loss to the country in terms of outflow of rupee. "Despite Kerala being blessed abundantly with titanium, which can last for the next 250 years, the government is taking no progressive move to support its own industry. It is unfortunate crores of rupees are being lost due to the selling of the ore to Tamil Nadu through black marketeers."
The company claims, despite a favourable order by the Supreme Court, it is unfortunate the company has to go for imports just to sustain the production. "Instead of spending time and resources in starting new industries, the government should first render support to existing companies in the state," the release stated. "It's a matter of shame for the state, which is naturally blessed with enough natural resources, that its regressive steps could lead to closing down of such companies," the CMRL release stated.