Mar 06, Colombo: The fully government owned Lanka Mineral Sands Ltd (LMSL) has successfully increased its production and brings in exports revenues to the country, and its contribution to the economy is continuously increasing, Minister of industry and Commerce Rishad Bathiudeen said.
Amid increasing production, Sri Lanka's pioneering mineral sands producer proudly marked its 60th anniversary on March 1. The firm celebrated the milestone by felicitating its committed workforce and praising their contribution to the economy.
"I thank the LMSL workforce including workers of Pulmoddai mine" said the Minister Bathiudeen addressing the 60th Anniversary celebrations of LMSL held at the Pulmoddai mines on 1 March.
This has become possible due to the commitment of LMSL staff and mine workers. "I thank the entire LMSL workforce including workers of Pulmoddai mine. We are looking at bringing in value addition methods to increase revenue further," the Minister said.
It was the Ceylon Mineral Sands Corporation formed in 1957 that later became the LMSL of today. Pulmoddai, LMSL's leading mine sprang into action in the same year and with LMSL, celebrates its 60th anniversary this year.
Apart from phosphate, graphite, clay and limestones, ilmenite Mineral Sands (including titanium) are a leading mineral commodity produced in Sri Lanka. Available info shows 150,000 MT of titanium mineral sands produced in Y2014 entering among the top mineral commodities. Limestones are at the highest slot at 750,000 MT in 2014.
Pulmoddai mines under LMSL were shut down in 1998 due to the then terrorist war but resumed production in 2005 showing no loss of its high quality. The Pulmoddai factory was upgraded with new technologies in 2014.
The key products that the company markets are Rutile, Zircon, and Ilmenite. From January to August last year, 127,497 MT mineral sands were produced and 43,109 MT of mineral sands were sold earning Rs 456.3 million net profit after tax.
Initial steps for obtaining Mining Licenses in Kokilai and Kokkuthuduwai areas have commenced and Environmental Impact Assessment (EIA) is also being reviewed. In January alone Pulmoddai produced more than 6,000 MT of ilmenite-twice its usual production volume of 3,000 MT.