Industry Minister Sunil Handunnetti said the new policy aims to strengthen the management of the country’s mineral resources by regulating exploration, mining, processing, and value-addition activities. The move is expected to enhance the economic benefits derived from Sri Lanka’s mineral wealth and promote the development of local industries.
According to the minister, the policy seeks to ensure that minerals are processed or refined within the country before being exported, thereby generating higher export earnings, creating employment opportunities, and encouraging investment in mineral-based industries.
The revised National Mineral Policy received Cabinet approval and was subsequently presented to Parliament. The policy officially came into effect on June 11.
Authorities say the new framework will also focus on sustainable resource management, environmental protection, and improved governance within the mining sector, while maximizing long-term returns from the nation’s natural resources.
The government expects the policy to play a key role in boosting value-added exports and supporting Sri Lanka’s broader economic development objectives.
