The Cabinet of Ministers has granted approval to a proposal to appoint an expert committee to carry out a detailed research on mineral deposits in Sri Lanka.
According to the proposals submitted by the Minister of Industries, minerals with an economic value amongst those existing in the country have been categorized under four groups, energy minerals, minerals within the category of ferus and ferroalloy family, non-ferus minerals and minerals coming under the category of non-metal minerals.
Two companies are already engaged in excavating, refining and exporting minerals such as ilmenite, zircon, rutile and graphite while the National Gem and Jewellery Authority is engaged in gemstone and jewelry related activities.
The Industries Minister is of the view that the government mediation for the utilization of other minerals in the country is insufficient.
Accordingly, a Cabinet paper has been submitted to appoint a committee to carry out a detailed study pertaining to areas where minerals are located, the quantities of those deposits and the products in which such minerals can be utilized for economic purposes.
Accordingly, the Cabinet has granted approval to appoint a committee and implement the economic programme proposed by experts.