Business
Publication of New National Minerals Policy
Capital Metals PLC welcomes Sri Lanka's new National Minerals Policy, which aims to boost foreign investment and employment by modernizing the mineral sector. This policy, revised for the first time since 1999, is expected to streamline the granting of mining and exploration licenses, though its delay has pushed Capital Metals' Final Investment Decision for its Taprobane Minerals Project to Q2 this year. The company is well-positioned to contribute to the policy's objectives through its high-grade mineral sands project, which has a projected NPV of US$155-235m based on existing resources. Disclaimer*
About this update from Capital Metals Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n11 February 2026\n \nCapital Metals PLC\n(\"Capital Metals\" or the \"Company\")\n \nPublication of New National Minerals Policy\n \nCapital Metals (AIM: CMET), a mineral sands company approaching mine development stage at its high-grade Taprobane Minerals Project in Sri Lanka (the \"Project\"), welcomes the publication by the Government of Sri Lanka of the country's new National Minerals Policy (the \"Policy\").\n \nThe Policy has been under development since the new government was elected in late 2024 and this is the first time it has been revised since 1999. The Policy recognises the significant role the mineral sector can play in terms of employment and foreign investment at a time when both are crucial to the revival of the Sri Lankan economy. This is further reflected in the government's recent transfer of responsibility for the minerals sector from the Ministry of Environment to the Ministry of Industry and Entrepreneurship Development (\"Ministry of Industry\"), recognising the need for the mining sector to be proactively advanced.\n \nThe Policy was prepared with input from all stakeholders, including from Capital Metals and other industry participants. It has as a primary objective to determine the extent of the resource wealth of the nation, which is known to be significant but for which research has been hampered by red tape and corruption under previous governments. The Policy also seeks to provide guidelines that will help in the creation of an appropriate administrative, legal, and functional framework for managing the national mineral wealth sustainably by luring investments, generating employment, boosting competitiveness, and adopting modern practices in exploration, mining, processing, and value addition in compliance with economic development and environmental concerns.\n \nThe Policy allocates responsibility for guidance on value addition to the Geological Survey and Mines Bureau (\"GSMB\"). Capital Metals has been in ac...