Rio Tinto's diamond exploration in MP reaches advanced stage
Exploration for diamond reserves in Madhya Pradesh by mining group Rio Tinto is in an advanced stage, a top company official said.
By PTI |
KOLKATA: Exploration for diamond reserves in Madhya Pradesh by mining group Rio Tinto is in an advanced stage, a top company official said.
"Of a few states we are exploring, evaluation for viability of reserves is in an advanced stage in Madhya Pradesh," Rio Tinto India managing director N Senapati said.
Asked how soon the process would be complete, Senapati said it would depend on when the company receives clearance from the government.
"Now, everything has to be permitted by the Supreme Court. The Ministry of Environment and Forest alone cannot give the nod," he said.
Senapati said the company was carrying out exploration in seven states including Andhra Pradesh, Karnataka, Chhattisgarh and Orissa. The company has interest in minerals and metals, but in India diamond remains the focus area.
If the company found proven reserves with advance exploration techniques, then it would require about USD 500 million to develop a diamond mine.
Rio Tinto has three active diamond mines across the world.
Senapati said it takes between 8 and 14 years to begin commercial production in a diamond mine.
"Of a few states we are exploring, evaluation for viability of reserves is in an advanced stage in Madhya Pradesh," Rio Tinto India managing director N Senapati said.
Asked how soon the process would be complete, Senapati said it would depend on when the company receives clearance from the government.
"Now, everything has to be permitted by the Supreme Court. The Ministry of Environment and Forest alone cannot give the nod," he said.
Senapati said the company was carrying out exploration in seven states including Andhra Pradesh, Karnataka, Chhattisgarh and Orissa. The company has interest in minerals and metals, but in India diamond remains the focus area.
If the company found proven reserves with advance exploration techniques, then it would require about USD 500 million to develop a diamond mine.
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Rio Tinto has three active diamond mines across the world.
Senapati said it takes between 8 and 14 years to begin commercial production in a diamond mine.
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