AP Dhurandhar, VP of the company, in an interview with CNBC-TV18’s Udayan Mukherjee and Mitali Mukherjee, said that they discovered 10 blocks of heavy mineral sand deposit in Southern Madagascar. He said, "Each of the block measures around 2.5 kilometres by 2.5 kilometres with a total area of 62.5 square kilometres."
Varun Industries has discovered 10 heavy mineral sand mining blocks in Madagascar containing 266.8 million tonne worth ilmenite, zircon, garnet, monazite and rutile among other minerals.