Sri Lanka explores granite export amidst low domestic demand

Wednesday, 31 January 2024 04:06 - - {{hitsCtrl.values.hits}}

Cabinet Co-Spokesman and Minister Bandula Gunawardena

Cabinet approves appointing committee to study facts, recommend possibility and appropriateness of exporting up to 1 m tons of granite

By Charumini de Silva

The Cabinet of Ministers on Monday approved the immediate export of granite stocks, paving the way for a potential economic boost.

Under the supervision of the Geological Survey and Mines Bureau, the export initiative aims to address the existing surplus of granite amassed during the construction of the Hambantota Magampura port.

The decision also involves the formation of a committee tasked with studying the facts and presenting recommendations regarding the feasibility and appropriateness of exporting up to one million tons of granite.

The move comes against the backdrop of the current subdued demand for granite in the country’s construction and development sector.

The surplus granite, currently stored near the administrative building of the Hambantota port and within the premises of the new hospital, needs prompt removal.

Speaking at the post-Cabinet meeting media briefing yesterday, Cabinet Co-Spokesman and Minister Bandula Gunawardena outlined the dire circumstances faced by the quarry sector, with 50,000 workers witnessing a significant impact on their livelihoods due to the economic downturn.

“This decision not only addresses the storage issue but also responds to the economic challenges faced by the granite mining industry and the associated communities,” he added.

He said the construction industry is grappling with challenges amid the economic crisis, experiencing reduced domestic demand, prompting the Government to explore opportunities for the export of granite resources.

Gunawardena said the committee’s findings will play a crucial role in determining the course of action for this potential export initiative.