Mineral sands will be over before local production starts, say Geologists

Cabinet approval has been granted to hand over the Polmuddai mineral sand reserve area to an Austrian company, claims the Geologists’ Front to Protect Ilmenite Reserve (GFPIR).

They further claim that 49% of the shares and the administration of the Mineral Sands Corporation would be handed over to the relevant company and that they plan to send a petition to President Mahinda Rajapaksa to desist from doing so as the country would lose valuable foreign exchange.

Geologist Dr. Rohan Fernando said the petition has already been prepared and would be handed over to the President within the next two days. More than 40 of the 80 geologists in Sri Lanka have signed the petition, he added.

Dr. Fernando explained that the Austrian company has said their agreement is to export mineral sands as a raw material during the first three years and then start using it for productions in Sri Lanka. He pointed out that the reserve would be completely used up by the next three years and nothing would be left for local production.