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Chamber of Mineral Exporters launched

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The Chamber of Mineral Exporters (CME Chamber) was officially launched as a collaborative initiative comprising prominent companies in Sri Lanka who mine, process, add value, and export minerals and mineral-based products.

The Executive Committee of the CME comprises Mr. Amila Jayasinghe – Chairman / Director Bogola Graphite Lanka PLC, Mr. A F M Farook – Vice Chairman / Director  CeyQuartz  MBI (Pvt) Ltd ,  Dr. Sandun Dalpatadu – Secretary / Director  Damsila Resources (Pvt) Ltd., Mr. Yaasir Nizam – Treasurer / Director Mirama Quartz Industries (Pvt) Ltd , Mr. Fahim Naufal – Director Alchemy Heavy Metals (Pvt) Ltd. and  Ms. Udesha Bopitiya – Director Lanmic Exports (Pvt) Ltd.

Speaking at the inauguration of the CME, Amila Jayasinghe said they are dedicated to:

·         Enhancing and advancing the mineral resource industry in the country.

·         Collectively addressing and enhancing the value addition for local minerals.

·         Collectively addressing the challenges faced by the industry.

“The Chamber aims to utilize Sri Lanka’s mineral resources for economic growth, employment, and sustainable development. It marks a milestone by uniting key exporters towards a vibrant mineral resource industry. The minerals available in Sri Lanka present an opportunity to increase the country’s international market presence to expand its global footprint. The Chamber aims to drive growth, innovation, and sustainable development in the mineral resource industry by leveraging resources effectively. ” said Chairman Amila Jayasinghe.

Vice Chairman A F M Farook , said that the goals and objectives of the Chamber are to :

·         Position the mineral industry as a major export revenue generator for Sri Lanka

·         Establish partnerships and encourage investments to boost foreign exchange earnings and overall economic growth.

·         Propel the mineral industry to new heights, creating employment and enhancing competitiveness in the global market.

·         Work with the public sector to develop long-term policies for sustainable development and responsible mining practices.

·         Partner with state and non-state organizations for eco-friendly practices, sustainable mining, and preserving natural resources for future generations.

Jayasinghe went on to explain the manner in which the benefits of their industry could be channeled back to the country, due to the collaborative efforts of their association. He also said that due to the many hurdles and impediments in their way, the progress of the industry was greatly hampered , some of these being : 

·         Rapid policy changes, inconsistent regulations, and tax laws affecting investment decisions and long-term planning.

·         Political instability which leads to delays in decision-making and infrastructure projects.

·         Heightened sovereign risk impacting investor confidence, borrowing costs, and currency fluctuations.

·         Lengthy and complex regulatory processes which slow down projects and increase costs.

·         Unfounded/baseless environmental and social concerns causing project delays due to opposition.

·         Volatile global commodity prices and demands which affect  revenue and profitability.

·         Geopolitical developments which add complexity, including changes in trade policies, tariffs, and international relations.

The newly formed CME called on the government to assist the industry, thereby boosting the country’s economy by implementing the following: 

·         Establishing transparent and consistent policies and regulations for mining and exports.

·         Have independent oversight bodies that implement a strong regulatory framework with clear guidelines and regular audits to monitor compliance and identify corrupt practices.

·         Simplifying and streamlining the permitting and licensing process for mineral exports using online platforms utilizing digital technologies (e.g., blockchain technology) and having one-stop service facilities.

·         Encouraging public-private partnerships in state-owned mineral enterprises for transparency and accountability.

The CME together with it’s members will work towards not only enhancing the efficiency and competitiveness of Sri Lanka’s mineral resource industry but will also contribute to the creation of high-value job opportunities and knowledge transfer, while maximizing the value addition locally to the minerals to ensure maximum retention of value for Sri Lanka

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1st stock of imported coconut milk to undergo clearance, lab testing today

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The first consignment of imported coconut milk under the Government’s raw material importation programme is scheduled to undergo clearance and laboratory testing today (31), as part of a coordinated initiative by the Plantation Industries Ministry.

This initiative, approved by the Cabinet, aims to supply essential raw materials to industries linked to the coconut sector, aiming to reduce domestic coconut prices and support local manufacturers. The consignment currently under clearance includes products equivalent to 200 million coconuts. They are in the forms of frozen coconut milk, coconut milk powder and chunked coconut with testa (non-copra), imported as part of the programme initiated in March 2025. The stock will be used primarily in the coconut milk powder industry, which has been facing raw material shortages. The Plantation Industries Ministry expects this move to reduce the pressure on local coconut supplies and contribute to a drop in retail coconut prices.

(dailynews.lk)

(Except for the headline, this story, originally published by dailynews.lk has not been edited by SLM staff)

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BoC employees to strike over unpaid incentives

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Employees of all Bank of Ceylon (BoC) branches have decided to walk out of service at 12.30 pm today (May 29).

The decision has been taken over the current management not taking the initiative to provide them with the 06-month incentive package approved by the Board of Directors, according to the Bank Employees’ Union.

Central Committee member of the Bank Employees’ Union – Najith Wijeratne, stated that they will initiate a token strike if this issue is not resolved by June 06.

BoC employees have also held lunchtime protests yesterday (May 28) in front of 22 branches in major cities islandwide.

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Imported salt released to market

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The National Salt Ltd. says that 2,800 MT of salt imported from India have been released to the market.

It says the food-grade salt stock, which arrived on May 23, is being distributed to the market through local salt sales agents for consumer sale.

The Ministry of Industry and Entrepreneurship Development states that Lanka Salt Ltd. is importing 10,000 MT of salt, while over 100 importers, including those from Pettah, are bringing in an additional 100,000 MT.

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