Varun Energy Corp, Madagascar today announced the signing of an MOU with a PSU under the Department of Atomic Energy to sell heavy mineral concentrates.Varun Energy is a Group company of Varun Industries Ltd, which is listed both on BSE and NSE.The MOU, under which Varun Energy will supply concentrates like Ilmenite, rutile, leucoxene, monazite (rare earth), zircon, sillimanite and garnet to the PSU, was signed by Directors and Senior Management officials of both companies here, a statement said here.Varun Industries has evolved from being India's leading steelware exporter to a multi-dimensional global conglomerate with business interests that include steelware, wind energy, oil and natural gas, uranium, heavy mineral sand, gold mining, gems and jewellery and agri and commodities.As per the agreement, the PSU (whose name was not disclosed) will purchase entire mineral concentrates from Varun Mines to ensure suitability of the constituent minerals for its local operations, it said.Varun will install and operationalise its plant at Madagascar to supply mineral concentrates to the PSU in next 8-10 months. It will supply approximately 5 lakh metric tonnes per annum of heavy minerals, the release said.Recently, Varun Group discovered 10 heavy mineral sand mining blocks covering an area of 62.5 sq km in Anosy region of Madagascar, an island country located in the Indian Ocean off the southeastern coast of Africa.