September 01, Colombo (LNW): Sri Lanka is preparing to give its mineral resources industry a more prominent place in the country’s economic and export strategy, with the newly introduced National Mineral Policy 2026 placing greater emphasis on investment, value addition and overseas markets.
The direction was discussed at a high-level meeting chaired by President Anura Kumara Dissanayake, bringing together representatives of the Sri Lanka Mineral Sands Association and officials from the Geological Survey and Mines Bureau.
The talks examined how the country could make better use of its mineral deposits by improving exploration and extraction while expanding processing and value-added activities. Officials and industry representatives also considered ways in which the sector could contribute more substantially to export revenues and wider economic development.
A key area of discussion was the development of industries that use locally sourced minerals as raw materials. Participants highlighted the need for improved infrastructure, appropriate investment incentives and greater support for research and development to encourage the expansion of domestic manufacturing linked to the mineral sector.
Attracting fresh capital, including foreign investment, was also identified as an important priority. However, industry representatives pointed to difficulties investors have traditionally faced when navigating procedures and dealing with different government institutions.
The meeting further considered weaknesses in earlier policy approaches and explored possible reforms aimed at creating a more efficient, commercially viable and environmentally responsible mining industry.
President Dissanayake stressed that greater transparency would be essential if Sri Lanka is to build investor confidence and attract long-term investment into the sector. He also called for closer cooperation between government agencies, noting that effective coordination would be crucial to translating the objectives of the new policy into practical results.
With mineral resources regarded as an underutilised economic asset, the government is now looking to combine investment, technology and domestic processing capacity to extract greater value from the sector while ensuring its development remains sustainable.