Sri Lanka, June 11 -- Sri Lanka's National Mineral Policy has been completely revised for the first time in 27 years and was presented to Parliament, Minister of Industry and Entrepreneurship Development Sunil Handunnetthi announced today.

Speaking at a media briefing, the Minister said the new policy officially comes into effect from today (11), marking a significant shift in the management and utilization of the country's mineral resources.

The Minister said that Sri Lanka has lost substantial foreign exchange earnings over the years due to the export of valuable mineral resources in raw form without value addition.

"A mineral exported as a raw material for around US$2,000 per tonne could generate significantly higher income if proc...