Titanium Sands Ltd to ramp up drilling at Mannar Heavy Mineral Sands project
Titanium Sands Ltd. is to reportedly ramp up drilling at the Mannar Heavy Mineral Sands project after acquiring a new rig.
Speaking on the developments at its flagship Mannar Heavy Mineral Sands Project in Sri Lanka Titanium Sands Managing Director Dr. James Searle has been quoted as saying, “’The biggest thing coming along shortly is our drilling processes will get a big step up because we’ve acquired an RC Air Core drilling rig which will be arriving in Sri Lanka in the next few weeks and that will dramatically increase the pace on the ground.”
The company has reportedly upgraded resources at the project back in February to 53.08 million tons of inferred resources grading 6.67% total heavy minerals.
Work had started in the March quarter on a scoping study that is to address all aspects of the project including operating and capital estimates and potential off take markets.
OSL take:
The upgrading of resources by Titanium Sands in its operations in Sri Lanka shows the varying scope of business/investment opportunities in the island and their success. Thegovernment of Sri Lanka has taken many steps to improve the ease of doing business environment in the country. Also, the country is engaged in a development programme covering the entire island. Foreign businesses/investors could therefore explore business opportunities in Sri Lanka.
| Article Code : | VBS/AT/24062019/Z_7 |