GSMB targets revenue of US$ 200M in 2022

By Thameenah Razeek | Published: 2:00 AM Oct 22 2021
News GSMB targets revenue of US$ 200M in 2022

By Thameenah Razeek 

The Geological Survey and Mines Bureau (GSMB) expects to generate revenue of US$ 200 million by 2022. GSMB Chairman Anura Walpola notified Environment Minister Mahinda Amaraweera during a meeting that the GSMB intends to undertake a programme to generate the expected revenue by the end of the year.

 Thus, the GSMB will undertake a programme to maximise Sri Lanka’s valuable subsurface mineral resources, in addition to granting permits for gravel, sand and soil. 

At the meeting, GSMB Chairman Walpola and Director General Sajjana de Silva stated that revenue may be collected based on the findings of heavy mineral research in Puttalam District and that investigation on important land resources in Sri Lanka has been expanded in relation to this project. The exploration of the Seruwila Gold Depository and expansion of high-value mineral exploration such as copper and platinum associated with it, introduction of value-added products by the Vein Quartz at Kotigambokka, Wellawaya and introduction of calcite products in the Kalthota Area will be conducted. 

The Minister directed that the process be accelerated and officials said the project will be launched with appropriate mineralogical utilisation plans that will implement effective mining and scientific utilisation of mineral resources, generating US$ 200 million in revenue for the Government.

By Thameenah Razeek | Published: 2:00 AM Oct 22 2021

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