UAE based company wins tender to buy ilmenite from Sri Lanka’s state owned Lanka Mineral Sands Limited
United Arab Emirates-based Rescom Mineral Trading FZE has reportedly won a tender from Sri Lanka’s state owned Lanka Mineral Sands Limited to purchase a consignment of 25,000 metric tonnes of ilmenite.
Government spokesperson, Minister of Land and Parliamentary Reforms, Gayantha Karunathileka has told the media that the ilmenite stock would be sold at US$ 145.25 a tonne.
The Cabinet of Ministers has recently approved the sale following a proposal by Minister of Industry and Commerce, Rishad Bathiudeen under whom the minerals sands corporation comes, Karunathileka has told a news conference.
Rescom or Resources and Commodities International headquartered in Dubai is one of the region’s leading marketers and producers of various industrial minerals.
OSL take:
The tender won by UAE’s Rescom to purchase a consignment of 25,000 metric tonnes of ilmenite from Sri Lanka’s state owned Lanka Mineral Sands Limited shows that foreign companies in the market for mineral sands could explore for opportunities to purchase their required material from Sri Lanka. Foreign businesses could also reach out to Lanka Mineral Sands Limited and look at other materials that are up for sale.
| Article Code : | VBS/AT/20180628/Z_3 |