The Geological Survey & Mines Bureau has made arrangements to hold a ‘Mineral Convention’ at the Bandaranaike International Memorial Conference Hall (BMICH) premises in October.
It was said that the already issued mineral exploration licenses have been canceled illegally, and this conference would be held to auction the exploration sites.
It is estimated that about 1,000 investors will attend this conference and an amount of Rs.10,000 will be spent per person per day on two days. The conference is to cost about Rs.40 million.
It was revealed during the recently held COPE meeting that exploration licenses obtained by local and foreign companies after spending millions of rupees to explore minerals have been illegally canceled.
