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GSMB revenue rises to Rs. 2 b by August 2021

13 Oct 2021

As of 31 August 2021, the Geological Survey and Mines Bureau (GSMB) had earned Rs. 2,028.33 million, marking a year-on-year (YoY) increase of 74%, the GSMB told the Ministry of Environment yesterday (12). This was revealed when Minister of Environment Mahinda Amaraweera inquired about the progress of GSMB yesterday, according to a ministry media release. This revenue was earned through the issuance of mining and transport permits, licences for export of mineral resources, as well as geological surveys carried out by various external agencies, especially for sand, mettle, gravel, and soil. So far this year, the GSMB has issued 777,000 licences for sand, gravel, and soil transport, while it estimated that the number of transport licences issued by the end of this year will exceed one million. The GSMB stated it has so far issued 12 exploration licences, 1,856 industrial licences, 281 trade licences, 777,000 transport licences, and 374 export licences within the last nine months. Environment Minister Mahinda Amaraweera also instructed the GSMB to issue licences and find other sources of revenue as well. In this regard, it is already proposed to start several value-added manufacturing industries in particular. The Minister instructed them to take steps to start several such industries.


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