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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Mining in Lanka

Mining in Lanka

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1Mining in Lanka  Empty Mining in Lanka Fri Mar 15, 2013 12:38 pm

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Article on the WSJ today
On top of this there is a large Iron Ore deposit in Buttala - Tambapani (orange soil) / Iron Oxide

http://online.wsj.com/article/SB10001424127887324077704578361491643425354.html?mod=googlenews_wsj


For BLUE fans they say the following:

"The country also produces gemstones including rubies and sapphires, which the government forecasts will contribute $1.2 billion to gross domestic product in 2013. "

@Sanju where are you.

2Mining in Lanka  Empty Re: Mining in Lanka Fri Mar 15, 2013 12:42 pm

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Do you need subscription for wsj?

Can you post the whole article with credit to them?

3Mining in Lanka  Empty Re: Mining in Lanka Fri Mar 15, 2013 12:47 pm

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Full Article - You need membership to view the full article.


Sri Lanka Seeks Investors for Nascent Mining Industry

By CLEMENTINE WALLOP

SINGAPORE—Sri Lanka is offering tax incentives and liberal regulations to lure investors to its mining sector as the country overhauls its infrastructure and opens up to foreign business after nearly three decades of civil war, a senior government official said.

While it has only modest reserves of precious and industrial metals such as gold and copper, Sri Lanka is home to large deposits of mineral sands and industrial minerals, which are used in industries such as ceramics, paper, paint and plastics. The country also produces gemstones including rubies and sapphires, which the government forecasts will contribute $1.2 billion to gross domestic product in 2013. GDP totaled $59.2 billion in 2011, according to the latest data on the World Bank's website.

After a war that deterred potential investors and damaged existing mining operations for limestone and graphite, Sri Lanka is courting companies and governments as it seeks funds to drive development, said Susil Premajayantha, minister of environment and renewable energy.

Sri Lanka is offering tax incentives and a liberal regulatory framework to investors, Mr. Premajayantha said. Miners will be charged a royalty of 5%, but the government won't levy any other charges, he said, adding that mining projects would be evaluated on a case-by-case basis.

"After the end of the conflict, we have huge opportunities for foreign investors...you can come to our country without fear," Mr. Premajayantha told Dow Jones Newswires on Thursday on the sidelines of a mining conference in Singapore.

The war ended in 2009 after a Sri Lankan army offensive crushed Tamil separatists, but the economy still faces headwinds. Earlier this week, ratings firm Moody's said the country would confront slower economic growth and elevated external pressures in 2013, as its debt burden weighs. As a previous funding package comes to a close, Moody's says Sri Lanka's decision in February not to seek a new program from the International Monetary Fund is credit-negative, as it could have bolstered investor confidence in the country.

But Mr. Premajayantha said the recent expansion of Colombo's seaport facilities and the construction of a new port and airport in the country's south are signs of the government's commitment to developing infrastructure, and would help bolster growth. He forecasts GDP growth of about 7% in 2013, compared with between 7% and 8% in 2012.

Some of the funding for the infrastructure projects has come from the Export-Import Bank of China, Mr. Premajayantha said, adding that the government would welcome Chinese investment in the natural resources sector. China is already one of the leading buyers of Sri Lanka's gemstones, as is Thailand.

Sri Lanka ranked 81st out of 185 economies on the World Bank's ease of doing business survey last year. This was a jump from 2011, when it ranked 96th.

The government may look more favorably on companies who have plans to refine ores and mine products inside the country, Mr. Premajayantha said.

4Mining in Lanka  Empty Re: Mining in Lanka Fri Mar 15, 2013 1:09 pm

anjelo

anjelo
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
sanju marilada danne naa...
mokada nathnam mans sure panagena hureee daanawa. ton pacha gahanawa... :-)

5Mining in Lanka  Empty Re: Mining in Lanka Fri Mar 15, 2013 1:54 pm

Backstage

Backstage
Moderator
Moderator
About six or seven years ago , there were Thorium deposits discovered in the Benthota area, apparently it is good quality and could be converted to Uranium. Haven't heard anything since, anyone know about this .... ?

6Mining in Lanka  Empty Re: Mining in Lanka Fri Mar 15, 2013 2:04 pm

Jiggysaurus

Jiggysaurus
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Backstage wrote:About six or seven years ago , there were Thorium deposits discovered in the Benthota area, apparently it is good quality and could be converted to Uranium. Haven't heard anything since, anyone know about this .... ?

Any titanium? Useful for brain surgeries.

7Mining in Lanka  Empty Re: Mining in Lanka Fri Mar 15, 2013 2:06 pm

anjelo

anjelo
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
thibbath yata gahala apee aiyala horen rata patawai puthaa....

8Mining in Lanka  Empty Re: Mining in Lanka Fri Mar 15, 2013 2:39 pm

Backstage

Backstage
Moderator
Moderator
@Jiggysaurus wrote:
@Backstage wrote:About six or seven years ago , there were Thorium deposits discovered in the Benthota area, apparently it is good quality and could be converted to Uranium. Haven't heard anything since, anyone know about this .... ?

Any titanium? Useful for brain surgeries.

he he, yes the ilmenite from Pulmudai can be processed into high grade Titanium, I believe there is an initiative now to do this, sometime back they tried to sell the sand as is ,to a Australian company but I think the JVP managed to put a stop to that.

9Mining in Lanka  Empty Re: Mining in Lanka Fri Mar 15, 2013 2:50 pm

vikii


Equity Analytic
Equity Analytic
@Backstage wrote:About six or seven years ago , there were Thorium deposits discovered in the Benthota area, apparently it is good quality and could be converted to Uranium. Haven't heard anything since, anyone know about this .... ?


if there is thorium , then we are in luck. Newest trend in power research is in LFTR (Liquid Flouride Thorium Reactors), a SAFE kind of reactor, they say?? Neutral

10Mining in Lanka  Empty Re: Mining in Lanka Fri Mar 15, 2013 3:32 pm

besthope


Manager - Equity Analytics
Manager - Equity Analytics
@Backstage wrote:About six or seven years ago , there were Thorium deposits discovered in the Benthota area, apparently it is good quality and could be converted to Uranium. Haven't heard anything since, anyone know about this .... ?
adey backstage, you have stumbled on big top secret men. finshed now cat is out of the siri siri bag.
about 5-6 years back at an early stage, apey lokka met that eye-ran fellow army-in-jihad or something like that for a wow pow. that fellow wants u-rain-i-am (not rain-making man ok) to enrich (all want to get rich no in the end ) the new-clear rods. That time in america bush in power i think. when bush got to no, he didnt beat around the bush. thats why americans putting resolute-shun in geneva also. to apply pressure for us not to give the uranium to iran. thats why rain-making man also appearing in forum posting one after the other. its all about the u-rain-i-am. then also i think cia fellows behind bbs on ha-lal matters to create problem so we wont give to the ura to iran. mara conspiracy is in the air.

11Mining in Lanka  Empty Re: Mining in Lanka Fri Mar 15, 2013 3:46 pm

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Wow we have crude oil, natural gas, gold, silver, titanium, thorium.
You name it we have it all...

In real terms we only have phosphates ( but cannot mix with water) and mineral sand.

12Mining in Lanka  Empty Re: Mining in Lanka Fri Mar 15, 2013 3:55 pm

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Oh you are back.

lol! lol!

@besthope wrote:
@Backstage wrote:About six or seven years ago , there were Thorium deposits discovered in the Benthota area, apparently it is good quality and could be converted to Uranium. Haven't heard anything since, anyone know about this .... ?
adey backstage, you have stumbled on big top secret men. finshed now cat is out of the siri siri bag.
about 5-6 years back at an early stage, apey lokka met that eye-ran fellow army-in-jihad or something like that for a wow pow. that fellow wants u-rain-i-am (not rain-making man ok) to enrich (all want to get rich no in the end ) the new-clear rods. That time in america bush in power i think. when bush got to no, he didnt beat around the bush. thats why americans putting resolute-shun in geneva also. to apply pressure for us not to give the uranium to iran. thats why rain-making man also appearing in forum posting one after the other. its all about the u-rain-i-am. then also i think cia fellows behind bbs on ha-lal matters to create problem so we wont give to the ura to iran. mara conspiracy is in the air.

13Mining in Lanka  Empty Re: Mining in Lanka Sat Mar 16, 2013 9:28 am

knockknobbler


Manager - Equity Analytics
Manager - Equity Analytics
It's a pity you have to pay to read this WSJ article.
It doesn't contain any thing new. They have not done any research. It seems their source is only Minister PremaJayantha ans some Govt press releases /publications.

14Mining in Lanka  Empty Re: Mining in Lanka Sat Mar 16, 2013 11:27 am

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
It appears some people have mistaken this as Entertainment Spot

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