Mineral export can fetch hefty forex: Experts
Monday, 9 November 2009
Bangladesh has deposits of at least 1.74 million tons of minerals worth over Tk 120 billion in the beach sand of vast areas stretching from Najirtek of Cox's Bazar Sadar to Teknaf, experts in Cox's Bazar said, reports BSS.
"The total amount of mineral deposits in the beach sand is estimated to be 4.4 million tons. The actual heavily rich minerals are around 1.75 million tons," said former Chairman of Bangladesh Atomic Energy Commission (BAEC) Dr Anwar Hossain.
He said the price of the mineral deposit could be realised through exports which have high demand in the global market.
The valuable minerals sands mostly zircon, ilmenite, magnetite, garnet and rutile could be extracted on a commercial basis from the vast areas stretching from Najirartek of Cox's Bazar Sadar to Teknaf, he said.
The Australian government has evinced keen interest to invest in the sector as newly-appointed Australian Ambassador to Bangladesh Justin Lee conveyed his government's willingness to the state minister of forest and environment of Bangladesh Dr Hassan Mahmud.
Taking the Australian government's zeal in this regard, the ministry of power and energy of Bangladesh has already formed a nine-member committee headed by a joint secretary of the ministry to look into the matter. Joint Secretary Ashraf Ali Khan is the convener of the committee.
Ashraf Ali told the agency that an Australian company named Premier Minerals had offered an initial investment of Tk four billion for extracting zircon, an expensive mineral. But, he said, the government is trying to pursue the Australian company for six resource items.
The company would place a report before the government and it will give necessary permission to extract the mineral resources, he said adding that the government will consider it on the basis of the report. The committee convener said they would bargain with the company about price fixing.
In an initial survey, said Ashraf, it was found that each ton zircon is worth about Tk 600 billion and others on an average Tk 6,000.
The mineral resources were first found in Cox's Bazar in 1960s and later Bangladesh Atomic Energy Commission (BAEC) started diverse researches.
During the early 1970s, a study conducted by the Australian government suggested to the Bangladesh government to set up a pilot plant in Bangladesh.
Probable extraction saw some development as a pilot plant with the support of the Australian government was set up in Cox's Bazar in 1975 for segregation of mineral resources from the sea beach.
BAEC scientists recommended that the government set up another plant on a commercial basis but no further progress was made.
Talking to the correspondent, scientific officer Md Moshruzzaman of Sea Beach Extraction Centre here said the minerals are now being extracted on an experimental basis and these minerals are being sold too on a small scale as per the demand of various organisations in Bangladesh.
Locals expressed their opinions in favour of extraction of the valuable minerals saying that a number of new industries would be set up in the sea-resource areas generating jobs if the government takes steps to extract the resources on a commercial basis.
However, the department of environment (DoE) of the ministry of forest and environment have termed the anticipated extraction of mineral sands as not environment-friendly and said it might jeopardise the environment.
But, said the DoE sources, there is still hope that the rich mineral resources can be extracted keeping the environment safe and secure.
"The total amount of mineral deposits in the beach sand is estimated to be 4.4 million tons. The actual heavily rich minerals are around 1.75 million tons," said former Chairman of Bangladesh Atomic Energy Commission (BAEC) Dr Anwar Hossain.
He said the price of the mineral deposit could be realised through exports which have high demand in the global market.
The valuable minerals sands mostly zircon, ilmenite, magnetite, garnet and rutile could be extracted on a commercial basis from the vast areas stretching from Najirartek of Cox's Bazar Sadar to Teknaf, he said.
The Australian government has evinced keen interest to invest in the sector as newly-appointed Australian Ambassador to Bangladesh Justin Lee conveyed his government's willingness to the state minister of forest and environment of Bangladesh Dr Hassan Mahmud.
Taking the Australian government's zeal in this regard, the ministry of power and energy of Bangladesh has already formed a nine-member committee headed by a joint secretary of the ministry to look into the matter. Joint Secretary Ashraf Ali Khan is the convener of the committee.
Ashraf Ali told the agency that an Australian company named Premier Minerals had offered an initial investment of Tk four billion for extracting zircon, an expensive mineral. But, he said, the government is trying to pursue the Australian company for six resource items.
The company would place a report before the government and it will give necessary permission to extract the mineral resources, he said adding that the government will consider it on the basis of the report. The committee convener said they would bargain with the company about price fixing.
In an initial survey, said Ashraf, it was found that each ton zircon is worth about Tk 600 billion and others on an average Tk 6,000.
The mineral resources were first found in Cox's Bazar in 1960s and later Bangladesh Atomic Energy Commission (BAEC) started diverse researches.
During the early 1970s, a study conducted by the Australian government suggested to the Bangladesh government to set up a pilot plant in Bangladesh.
Probable extraction saw some development as a pilot plant with the support of the Australian government was set up in Cox's Bazar in 1975 for segregation of mineral resources from the sea beach.
BAEC scientists recommended that the government set up another plant on a commercial basis but no further progress was made.
Talking to the correspondent, scientific officer Md Moshruzzaman of Sea Beach Extraction Centre here said the minerals are now being extracted on an experimental basis and these minerals are being sold too on a small scale as per the demand of various organisations in Bangladesh.
Locals expressed their opinions in favour of extraction of the valuable minerals saying that a number of new industries would be set up in the sea-resource areas generating jobs if the government takes steps to extract the resources on a commercial basis.
However, the department of environment (DoE) of the ministry of forest and environment have termed the anticipated extraction of mineral sands as not environment-friendly and said it might jeopardise the environment.
But, said the DoE sources, there is still hope that the rich mineral resources can be extracted keeping the environment safe and secure.