The Pulmoddai Mineral Sands Company has recorded the highest ever sale of ilmenite sand.
The State Resources and Enterprise Development Ministry stated that the Company has sold 5,000 tons of ilmenite for Rs. 186 million.
The Ministry said the profit of the Pulmoddai Mineral Sands Company which was Rs. 239 million in 2009 has increased up to Rs. 7 billion in 2011.
State Resources and Enterprise Development Minister Dayasritha Tissera said that the increase in profits was due to the end of the conflict and the Company's open tender policy.
The government has planned to set up new machinery worth US$ 70 million in the Pulmoddai Mineral Sands Company to increase its production capacity.
The Minister has added that the government is working at earning a large amount of foreign exchange through the sale of mineral sands.
The Corporation currently exports mineral sand to Russia, Japan, US and the UK and is to venture into value added export products.