trending Market Intelligence /marketintelligence/en/news-insights/trending/c2QKKotq56dAHvKEXt4cEQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Report: India's NMDC set to explore Rio Tinto-abandoned Bunder diamond deposits

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results

Mining Exploration Insights: Is the exploration sector back on recovery?

State of the Market: Mining Q2-2019


Report: India's NMDC set to explore Rio Tinto-abandoned Bunder diamond deposits

India's central state of Madhya Pradesh asked state-owned National Mineral Development Corp. Ltd. to explore the Rio Tinto-abandoned Bunder deposits, which could contain millions of carats of diamonds, Reuters reported Jan. 10, citing the Mineral Resource Department's principal secretary.

"We have requested NMDC to do a composite role of exploring and mining and the company has shown a preliminary interest," Neeraj Mandloi told Reuters.

The government awarded a smaller portion of the deposit to Aditya Birla Group's Essel Mining and Industries in December 2019, the report noted. That area was valued at about US$9 billion, according to estimates by Rio Tinto and the state government.

In 2017, NMDC was reported to have planned to bid for the Bunder deposits, which Rio Tinto had given to the government of India.

Rio Tinto spent about US$90 million over 14 years on the Bunder project, with plans to invest up to US$500 million. However, the company pulled out due to legal battles with green activists and delays in acquiring environmental permits.