CHENNAI: The Tamil Nadu Minerals Ltd (TAMIN) on Thursday signed a memorandum of understanding (MoU) with Indian Geological Research Centre to exploit platinum deposits in the State for setting up new industries.
The MoU was signed by K Manivasan, Chairman and Managing Director, TAMIN and N K Dutta, Chairman of the Indian Geological Research Centre in the presence of Chief Minister M Karunanidhi at the Secretariat.
In TN, there is a vast scope for prospecting for Gold, Platinum Group of Elements (PGE), base metals and molybdenum, an official release here said and added that the Centre, during the last three years, had conducted extensive research and found deposits of platinum in the Mettupalayam- Namakkal region.
PGE are confined to layered ultramafic intrusions. The PGE occurs in layered chromite bearing ultramafic ultrabasic complexes in Sithampoondi Complex in Namakkal district, Sirapalli ultrabasic rocks in Namakkal district and Bhavani layered complex in Erode and Coimbatore districts. The MoU was signed to explore the commercialisation of the white gold, by setting up related industries.