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Share: COLOMBO (News1st): A News1st investigation has uncovered a scheme that allows foreign entities to exploit Sri Lanka’s mineral deposits at a low cost. The scheme was unearthed during an investigation into a proposed mineral mining project on Mannar Islands involving an Australian company – Titanium Sands Ltd. Sri Lanka’s Mines and Minerals Act does not allow licences to be issued to companies not registered in the country for the exploration or mining of minerals. How did the Australian company get involved in the project? Five local companies hold nine licences to explore minerals on Mannar Islands in which a valuable deposit worth nearly 265 metric tonnes has been discovered. ....
Share: COLOMBO (News1st): A News1st investigation has uncovered a scheme that allows foreign entities to exploit Sri Lanka’s mineral deposits at a low cost. The scheme was unearthed during an investigation into a proposed mineral mining project on Mannar Islands involving an Australian company – Titanium Sands Ltd. Sri Lanka’s Mines and Minerals Act does not allow licences to be issued to companies not registered in the country for the exploration or mining of minerals. How did the Australian company get involved in the project? Five local companies hold nine licences to explore minerals on Mannar Islands in which a valuable deposit worth nearly 265 metric tonnes has been discovered. ....