The heavy mineral sands (HMS) project on Mannar Island, led by Titanium Sands, is emerging as one of Sri Lanka’s most significant upcoming resource developments. The project is expected to benefit from a new national mineral policy currently awaiting parliamentary approval, aimed at strengthening the country’s mineral economy and attracting foreign investment, with at least 14 investors showing interest in mineral exploration and processing.
The proposed mining licence covers approximately 69 km², including a JORC resource of 318 million tonnes at 4.17% total heavy minerals. Stage 1 development will focus on a high-grade zone of 82 million tonnes at 6.03% THM, with further stages planned in parallel. Strategically located with access to major ports such as Colombo and Trincomalee, the project is well-positioned to supply high-quality ilmenite to international markets, including the Middle East, India, and South Korea.
Environmental studies and technical assessments for the project are nearing completion, with the Environmental Impact Assessment (EIA) expected to be submitted soon. The Industrial Mining Licence application is currently under review by the Geological Survey and Mines Bureau and will progress once the new mineral policy is finalised.
To support ongoing development, Titanium Sands has secured additional funding, including an $800,000 arrangement and a $400,000 loan extension through CPS Capital Group. These funds will be used to complete environmental studies, advance licensing processes, and cover operational costs, positioning the project for future implementation and contribution to Sri Lanka’s industrial and economic growth.
