Rescom Mineral Trading wins Sri Lanka ilmenite deal

ECONOMYNEXT – United Arab Emirates-based Rescom Mineral Trading FZE has won a tender from Sri Lanka’s state-owned Lanka Mineral Sands Limited to buy 25,000 metric tonnes of ilmenite.

Government spokesman, Gayantha Karunathileka, Minister of Land and Parliamentary Reforms, said the ilmenite stock would be sold at US$145.25 a tonne.

The Cabinet of ministers this week approved the sale on a proposal by Rishad Bathiudeen, Minister of Industry & Commerce, under whom the minerals sands corporation comes, he told a news conference.

Rescom, or Resources and Commodities International, headquartered in Dubai, is one of the region’s leading marketers and producers of various industrial minerals.
(COLOMBO, June 13, 2018)

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