Ambeon Capital invests Rs. 600 million in mineral sands project
The Morning: Ambeon Capital PLC has announced a strategic investment of Rs. 600 million in the Taprobane Minerals Project, a high-grade mineral sands operation located in Sri Lanka’s Eastern Province.
The move marks a key step in the company’s efforts to diversify its investment portfolio.
The project is being promoted by UK-based Capital Metals PLC, which is listed on the London Stock Exchange. Ambeon’s investment will be made in Redgate Lanka (Pvt) Ltd., the local subsidiary and holding company of the project.
In return for its investment, Ambeon Capital will receive 59.7 million ordinary shares in Capital Metals, amounting to a 14.1% stake in the company. These shares will be listed on the London Stock Exchange upon issuance.
The Taprobane Minerals Project, known for its high-grade deposits of ilmenite, rutile, zircon, and garnet, offers significant potential for expansion, aligning with Ambeon’s long-term growth strategy.
OSL take:
Sri Lanka’s mineral sands industry is yet to be fully tapped of its potential and presents many business/investment opportunities. The increasing interest shown by foreign businesses in the emerging business/investment opportunities in Sri Lanka’s mineral sands industry that range from mining to exporting the raw materials or value-added products indicates the increasing business potential in the industry. The promotional campaigns carried out by the local authorities overseas on the emerging business/investment opportunities in Sri Lanka and the many trade agreements as well as trade concessions enjoyed by the country have all helped increase the business potential of the local mineral sands industry. Apart from the direct business/investment opportunities in the emerging industry, there are also indirect opportunities that present further lucrative ventures for foreign businesses/investors on the lookout for opportunities in Sri Lanka. All these positive developments indicate that foreign businesses/investors could confidently explore the increasing business/investment opportunities in Sri Lanka’s mineral sands industry and related sectors.
| Article Code : | VBS/AT/20250605Z_5 |