New Delhi: British-Australian multinational metals and mining corporation Rio Tinto is planning to produce up to three million carats of diamonds annually from its Bunder deposit in Madhya Pradesh's Bundelkhand region.
The Bunder project is Rio Tinto's most advanced diamond mining project, and its first in India.
The deposit comprises a cluster of eight lamproites (volcanic rock), located in the Bundelkhand region of Madhya Pradesh, 500km south east of Delhi.
Rio Tinto discovered the Bunder deposit in 2004 as part of a regional exploration reconnaissance programme which began in 2002.
The mine is likely to yield 37 million tonnes of kimberlite, containing about 27.4 million carats of diamonds and has a life of 25 years.
With the high production rate of Bunder Madhya Pradesh would rank, in terms of volume and value, in the top ten diamond producing regions of the world.
It's Rio Tinto's $500-million project, The company has managed to successfully pass the initial two stages of mine development - reconnaissance and prospecting - since it started work on the project in 2002.
Rio Tinto expects production from the Bunder project to begin in 2019.
