State-run National Mining Development Corp (NMDC) plans to produce close to 100,000 carats of diamonds from the Panna diamond mines in Madhya Pradesh by 2010-11, Steel Minister Virbhadra Singh said here Wednesday.
State-run National Mining Development Corp (NMDC) plans to produce close to 100,000 carats of diamonds from the Panna diamond mines in Madhya Pradesh by 2010-11, Steel Minister Virbhadra Singh said here Wednesday.
The Panna mines were reopened this month after being closed for four years over environmental issues. NMDC, a state-run unit under the steel ministry, extracts minerals across the country.
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"We will invest more than Rs.20 crore to acquire one lakh carats of diamonds from the Panna mines in the next financial year," Singh told IANS at his residence, Holly Lodge, located in Jakhu hills here.
"We have requested the Madhya Pradesh government to allow NMDC to explore more areas adjoining the Panna mines so that the area could emerge as a diamond hub. Moreover, Chattarpur district is also rich in diamond reserves," he said.
Maintaining that this would attract investments in diamond cutting and polishing, the minister added: "The NMDC is also keen to explore other mineral-rich areas in Madhya Pradesh. Shahdol and Umaria districts are rich in coal deposits."
The Panna mines are Asia's largest mechanised diamond mines, and were commissioned in 1968-69 with an initial capacity of 12,500 carats per annum.
"In this fiscal, NMDC aims to acquire 35,000 carats of diamonds from Panna. In the next two months, the goal is to mine 5,000 carats," Singh said.
The mines, which had been closed since August 2005, were reopened after the Supreme Court's permission was taken. The mines fall in the Gangau Wildlife Sanctuary.
"On the direction of the Supreme Court, NMDC has deposited Rs.10.69 crore with the state government as net present value for reopening the diamond mines," he said, and described it as a "great achievement" by the United Progressive Alliance government in its first 100 days of administration.
"This will not only result in additional revenue for NMDC but will also provide direct employment to more than 250 people," Singh said.
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