RIO Tinto, the global mining major, has
forayed in investing $ 500 million to develop a world class Bunder diamond mine
in Madhya Pradesh which is likely to begin its commercial production from 2016.
The move will create enormous employment opportunities in Indian diamond and
jewellery manufacturing industries.
Under the project, an Inferred Resource has been estimated at
37 million tonne containing 27.4 million carats.
The move has come after signing State Support agreement with
the state government and the state Government gave an in-principle nod in
January 2012 for the project mining lease. Once developed, the project is
expected to shoot Madhya Pradesh in the top ten diamond producing regions of the
world.
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