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Go Ahead for Rio Tinto's Bunder Diamond Project

By Joel ScanlonOct 26 2010

Rio Tinto is entering a State Support Agreement with the government of the state of Madhya Pradesh in India for the Bunder diamond project.

The project has an estimated 27.4 million carats of diamonds available as per its Order of Magnitude study. Rio Tinto is planning the commencement of mining activities at Bunder by 2014.

The senior executives of Rio Tinto were in Khajuraho to support the Global Investors Summit and signed the agreement in the presence of the Chief Minister of Madhya Pradesh, Mr Shivraj Singh Chouhan.

Mr Nik Senapati, Managing Director of Rio Tinto India said that it was a milestone in the journey to developing a world class diamond mine in Madhya Pradesh.

Regional exploration in Madhya Pradesh in 2004 had first revealed the presence of diamonds in the region. The mine at the Bunder site will cost about $500 million to develop, however once ready it would be amongst the top 10 diamond producing areas in the world.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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