Several major Indian corporations are set to enter Sri Lanka’s critical mineral mining sector, leveraging the country’s newly introduced national mineral policy. This policy aims to attract foreign investors and technology partners to collaborate with Sri Lankan counterparts in joint ventures.
Sources indicate that Indian firms such as Ola Electric, Hindalco Industries, and Gujarat Mineral Development Corporation are currently evaluating opportunities in Sri Lanka’s graphite mining industry.
The island nation is renowned for its ultra-pure, highly crystalline vein graphite, boasting over 98% carbon purity. Sri Lanka has been mining this unique mineral for over a century, making it a key player in the global market.
In a bid to strengthen bilateral cooperation in mineral exploration and mining, India and Sri Lanka convened a high-level meeting on Saturday. The discussions primarily focused on securing critical minerals essential for both countries’ industrial and economic advancement, according to India’s Ministry of Mines.
The meeting in New Delhi saw Union Minister of State for Coal and Mines, Satish Chandra Dubey, engage in productive discussions with Sunil Handunnetti, Sri Lanka’s Minister of Industry and Entrepreneurship Development.
A key topic of discussion was Sri Lanka’s vast reserves of graphite and beach sand minerals, which hold immense potential for applications in clean energy, battery technology, and high-tech industries.
Both ministers emphasized the importance of strengthening partnerships in mineral exploration, with India highlighting its National Critical Mineral Mission. This initiative aims to ensure a stable supply of essential raw materials such as lithium, graphite, nickel, cobalt, and copper to support India’s ambitious renewable energy targets.
India is actively working on granting mining rights for critical minerals, forming international collaborations, and encouraging domestic companies to secure global mineral assets. As part of these efforts, both nations explored opportunities for technological cooperation, investment prospects, and the potential for government-to-government (G2G) mineral exploration initiatives.
The Geological Survey of India (GSI) has expressed interest in conducting mineral assessments in Sri Lanka. Additionally, Sri Lanka has requested India’s support in encouraging Indian companies to invest in its graphite and beach sand mining projects.
Another key point of discussion was the finalization of a Memorandum of Understanding (MoU) on cooperation in geology and mineral resources between India’s Ministry of Mines and Sri Lanka’s Geological Survey & Mines Bureau.
Minister Dubey emphasized that this agreement, once formalized, would provide a solid foundation for deeper collaboration in mining exploration, capacity building, and advanced mineral processing.
India reaffirmed its commitment to supporting Sri Lanka’s mining sector through skill development, technology transfer, and financial assistance to modernize its industry. Minister Dubey stated that the long-standing India-Sri Lanka partnership would be further strengthened through joint efforts in the mining sector, ensuring mutual economic growth and sustainability.
The discussions concluded on a positive note, with both nations agreeing to expedite formal agreements and explore further opportunities for collaboration in the critical mineral sector.
