Thursday, 11 April 2019 06:27

Sudden bonus thrills weary Pulmoddai miners

As their state controlled mining operation reported huge profits last year, thrilled workers of Sri Lanka’s premier mineral sand miner happily bagged a bonus of Rs 100,000 each on 8 April. said the Minister of Industry, Commerce, Rishad Bathiudeen in Pulmoddai.

Minister Bathiudeen, joined by workers of all ranks and his top officials was addressing the bonus award session for Lanka Mineral Sands Ltd (LMSL) at the company’s Pulmoddai plant premises. LMSL reported Rs 676 million Mn net profit after tax in Y2018.

“During the previous weeks there were strikes and other trade union actions here, and they disrupted this plant’s smooth production process. The Trade Unions were drawing the innocent workers to their protests and getting them into trouble. Due to trade union action, bonus rates have come down and you have lost a bigger pay-out” said Minister Bathiudeen, and added: “Some people are speculating that the Pulmoddai mines are to be sold to private buyers.

Neither the government nor my Ministry has approved transfer of the profitable Pulmoddai deposits to any local or foreign buyer. As long as these mines are under him , they will not be allowed to be privatised, he said. ”

The key products that LMSL markets are Ilmenite, Rutile, Zircon, and “Ilmenite with by-products”. In 2019/’20, LMSL plans to expand to Value Added Products and to establish a new mineral processing plant in the vicinity of Kokillai.

Pulmoddai mining operations celebrated their 61st anniversary on 1st March 2019.

(LI NEWS)

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