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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka's gold deposits not commercially viable, says authority

Sri Lanka's gold deposits not commercially viable, says authority

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Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Jun 19, 2012 (LBT) - Chairman of Sri Lanka Geological Survey and Mines Bureau (GSMB) Dr. N.P. Wijayananda says Sri Lanka does not have any commercially viable gold deposits. He says that gold found from several parts of the country is only in a small scale and not in sufficient quantities to process further. Small gold deposits are found at Pugoda, Kiri Ibban ara, Ratnapura and Balangoda areas of Sri Lanka.

Recently, gold deposits were found in Kelani River at Pugoda and people flocked there to mine gold in the river bed. Geological Survey and Mining Authority took steps to grant permits for mining. However, the miners say that they could find gold in quantities only sufficient for daily subsistence.
http://www.lbt.lk/news/business/2115-lacking-gold

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