Sri Lanka mineral sands miner to set up new processing plant
ECONOMYNEXT – Sri Lanka’s government-owned mineral sands miner plans to set up a processing plant later this year, Minister of Industry Commerce Rishad Bathiudeen said.
Lanka Mineral Sands Ltd. (LMSL), which comes under the ministry, mines beach mineral sands in Pulmoddai on the northeast coast, a statement said.
“LMSL plans to diversify into new products and locations, expanding to value added products and establishing a new mineral processing plant in the vicinity of Kokillai in 2019/20.”
The key products that the company markets are ilmenite, rutile, zircon, and ilmenite by-products. In 2018, LMSL reported a 676 million rupees net profit after tax, the statement said.
It quoted Bathiudeen as saying there were no plans to sell the profitable Pulmoddai mineral sand deposits.
(COLOMBO, March 21, 2019-SB)