Titanium Sands has secured Stage 2 funding for its Mannar Island mineral sands project in northwest Sri Lanka. A recent meeting with the Finance Ministry supports the Industrial Mining Licence process and environmental studies are near completion. The funding will finalise studies and push the project forwards towards heavy mineral sands production.
Titanium Sands Limited has locked in its Mannar Island heavy mineral sands project for a final push towards production, after the Sri Lankan government extended its four key exploration licences. The retention paves the way for the company to complete ongoing environmental studies and brings it closer to securing the all-important industrial mining licence for its high-grade mineral sands deposit.
Titanium Sands Ltd has cleared another big hurdle in its quest to bring its vast Mannar Island heavy mineral sands project in Sri Lanka into production after the country's environmental authority issued terms for the company's pivotal environmental impact assessment. The milestone sets the stage for the final environmental studies required for Titanium Sands to secure an industrial mining licence to bring its high-grade deposit into production.
Titanium Sands has won approval from Sri Lanka's Geological Survey and Mines Bureau to consolidate the five main licences at its Mannar mineral sands project to assist the process of obtaining an industrial mining licence. The consolidation is a requirement of the country's “Board of Investment” in order to seek foreign investment approval for the project.
Titanium Sands is a significant step closer to securing a mining licence for its $545 million Mannar Island heavy mineral sands project in Sri Lanka after landowners affected by the operation signed land access agreements. The company describes the agreements as a milestone moment that takes it further towards completing its environmental impact obligations at the site.
Sri Lankan government legislation designed to promote its mineral sands industry and exports has delivered a major boost for Titanium Sands and its bold development plans for its project on Mannar Island in the country's north-east. The recent legislation was brought in to ensure local participation in adding value to related products earmarked for export.
