President directs to attract major investors to Sri Lanka’s mineral industry

Newswire reports that President Anura Kumara Dissanayake led a meeting at the Presidential Secretariat on October 28 to advance efforts to attract substantial investment to Sri Lanka’s mineral industry. Ada Derana reports that the president discussed ways to bring strong investors into the sector.

Newswire reports that Dissanayake said the government must assess the country’s resources, establish the full potential of its mineral reserves and act to attract investment. Attendees examined progress in selecting land for mineral projects and pinpointing existing deposits.

Newswire reports that the Kahatagaha graphite mines and Eppawala phosphate deposits were among the focus areas for exploration and investor outreach. Participants also discussed steps to give reserve and exploration reports from the Geological Survey and Mines Bureau international-standard credibility, alongside the option of assigning future exploration work to qualified external organisations.

Newswire reports that Ministry of Industries and Entrepreneurship Development officials said they were developing a policy framework for orderly, lawful gem mining. Officials also assessed steps to prevent deception in gem exports and the building of a Gem and Jewellery Centre intended to strengthen the local trade and draw overseas investment.