(UTV|COLOMBO) – Sri Lanka’s mining and quarrying sector packs greater potentials in revenues and capacity. Sri Lanka now has the latest technology to create the breakthrough wonder material ‘Graphene’ from its own, high purity graphite deposits.
“The Government wishes to increase the share of mining in GDP. Lankan graphite producers are likely to see even better times in future” said the Minister of Industry and Commerce on 14 August in Colombo, addressing an evening session themed “Intelligence in Graphite” organised by Bogala Graphite Lanka PLC, a subsidiary of Graphit Kropfmuhl GmbH (Part of AMG N.V.), which has mining operations in Africa and Asia. Joining Minister Rishad Bathiudeen at the session were Managing Director/CEO (Chief Executive Officer) of Graphit Kropfmuhl GmbH Thomas Junker, Bogala Graphite Lanka PLC Chairman Vijaya Malalasekera, Bogala Graphite Lanka PLC’s CEO Amila Jayasinghe, Chief Minister of Sabaragamuwa Province Maheepala Herath, several Parliamentarians, as well as local and international academics and experts in mining. Mines of Bogala Graphite are located within the Sabaragamuwa Province.
“The Ministry of Industry and Commerce too contributes to the mining GDP of Sri Lanka. For example, Kahatagaha Graphite Lanka Limited (KGLL) under my Ministry is a fully Government owned company. It has Sri Lanka’s leading underground mine, producing high quality graphite above 99% carbon purity” said Minister Bathiudeen, and added, “From 2006 to 2017 the total production of graphite by KGLL is more than 8000 metric tonnes and it exported 6300 MT. For 2018 KGLL has a Production Target of 840 MT. As you may know graphene which is world’s new breakthrough material is produced from graphite. I believe that Lankan graphite producers such as Bogala Graphite and Kahatagaha Graphite therefore are likely to see even better times in future. I have been given to understand about some issues faced by the Sri Lankan mining sector. The mining licenses issued have to be renewed every year is one complaint. Annual renewal is maintained by the Government to safeguard our mining sector. However, it appears that international investors welcome less frequent renewals. Global investors also welcome specialized mining licenses rather than general licenses in Sri Lanka. The sector also likes to receive funding for small mines by the Gamperaliya program. It is encouraging that the mining sector is actively voicing these issues. I am pleased of the active nature of mining sector calling for positive reforms and that is a good sign since the Government wishes to increase the share of “Mining” in GDP.”
During the 14 August session, experts showed that thanks to a spinoff firm of SLINTEC, Sri Lanka now has the latest graphene processing technology which can produce multi-layered graphene (From locally mined graphite) at half the price (around US $ 6000) of the current international price (At $12000) liberally quoted by foreign graphene suppliers who rein the global markets.
The “Mining and quarrying activity” contributes nearly 2.7% to Sri Lanka’s GDP. In the first quarter of 2018 output value of mining and quarrying was an estimated US $ 625 million with a reported 0.6 percent growth rate in the (Compared to Q1 of 2017). The sub sector “Mining of construction material” is the highest contributor to the overall ‘Mining and quarrying activity’ (Large scale constructions such as the Port City creating the demand).
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