Saturday, May 14, 2022

NMDC’s e-auction for sale of rough diamonds receives overwhelming response

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New Delhi: NMDC Limited conducted an e-auction for the sale of rough diamonds produced at its Panna Diamond mines located in the state of Madhya Pradesh. The e-auction received an overwhelming response from Diamond merchants of Surat, Mumbai and Panna. About 8,337 carats of rough diamonds, produced prior to December 2020, were offered in the auction and almost 100 percent of the quantity received winning bids.

NMDC’s Diamond Mining Project at Majhgawan – Panna happens to be the only mechanised diamond mine in the country. This project is equipped with the facilities of ore processing plant including heavy media separation unit, X-ray sorter for diamond separation and disposal system for tailings generated.

NMDC Limited's CMD Sumit Deb said, “NMDC has been in the sphere of mining for over six decades now. With state of art technology and unparalleled experience, the company has become an entity that balances environmental safety and protection of people around the mines with enhanced production capacity for the nation. We recently received an overwhelming response in the diamond auction conducted at Surat where almost 100 percent of the offered quantity received bids from the diamond merchants. NMDC has its diamond mine at Panna in Madhya Pradesh, which is the only state in India that accounts for 90% of the total diamond resource for our country. NMDC’s presence in the state with a production capacity of 84,000 carats per year shows its commitment to the country’s growing economy.”

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