- Mineral sands are a kind of product where the pricing is related to the global price, type of mineral, product quality and demand of minerals at different times
- Marketing also depends on some other factors like defense policy, stock accumulation, approach planning to mineral or raw material users, the opening up of new mineral sands mining fields and scientific discoveries
- Recent marketing strategies involve direct negotiations between producers and consumers
- Demand for the economic minerals market is increasing due to the expansion of the ceramic industry owing to rapid urbanization and increased use of tiles and granites around the world
- The market for mineral sand was driven by substantial demand from the buildings and construction industry
- The market is anticipated to witness growth after recovery from virus outbreak.
- This sand mining initiative in Bangladesh will definitely add an extra mile to the mining industry
- The valuable minerals extracted from heavy minerals will be used for the raw materials of the local industries
- Current Market Price per tonne of these minerals are: (Ref: Consensus Economics Inc. 14th November 2022)
- After fulfillment of the local industrial demand, EML will export to other countries which will create a way avenue of Foreign currency earning for the country as per Rule 83(1A) of the Mines and Minerals Rule 2012
- Many industries in Bangladesh e.g., ceramic, glass, paint, refractory, shipbuilding etc. are importing and using heavy minerals as raw materials to support their industry
- Bangladesh imported US$ 5.02m of Zircon, Rutile, Garnet and Iron in the first 6 months (Jan-Jun) of the year 2019 (Source: Ministry of Planning, 2018-19)