SRI LANKA IRON ORE
October 1st, 2003
BY SWINEETHA DIAS WICKRAMANAYAKEA SRI Lanka university is talking to foreign mining investors after its geologists discovered a dense iron ore deposit in the south of the island country. Peradeniya University claims that the deposit, in Wellawaya district, has a purity exceeding 90 per cent and is estimated to be about 90 million tonnes in size. Sri Lanka's Financial Times has reported that its value is estimated at US$2.5-3 billion, based on the current market value of iron of around US$50 a tonne. The university's department of geology is holding talks with ...
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