SOURCE :- SIASAT NEWS
Hyderabad: Telangana government-run NMDC Ltd has recovered a 27.29-carat diamond from its Panna mine in Madhya Pradesh, the second-largest gem unearthed at the facility since it began operations, the company said on Wednesday, September 16.
The stone, valued initially at a minimum auction price of about Rs 1 crore based on its colour, carat weight, clarity and S-shape, could eventually fetch between Rs 2 crore and Rs 2.5 crore once it goes through the prescribed evaluation and auction process, National Mineral Development Corporation (NMDC) said.
“The recovery of a 27.29-carat diamond, the second-largest from our Panna mine, is a moment of pride for NMDC. It is a testament to the dedication of our teams and the potential of India’s mineral resources. We remain committed to responsible mining and developing our diversified mineral portfolio,” Chairman and Managing Director Amitava Mukherjee said in a statement.
Only mechanised diamond mine in South Asia
The Panna operation is NMDC’s sole diamond-mining venture and the only mechanised diamond mine in South Asia, forming part of the Navratna PSU’s non-iron ore business. It has an annual production capacity of 84,000 carats and contributes to domestic sourcing of high-value minerals.
NMDC said the mine had produced around 6,000 carats of diamonds so far in the current financial year, up to August, as the company continues to build out its portfolio beyond iron ore.
Six decades of operations at Panna
NMDC’s presence in Panna dates back to 1965, when it began exploration and preliminary mining in the district. The company formally acquired the diamond project at Majhgawan between 1966 and 1968 and scaled up early excavation work, before commercial, fully mechanised production commenced at the Majhgawan mine in 1971-72.
Diamonds at the mine are extracted both from existing ore stockpiles and through regulated open-cast bench mining, an approach the company says is designed to balance environmental safeguards against economic returns.
SOURCE : SIASAT
