New Delhi, March 10
State-run National Mineral Development Corporation (NMDC), India’s largest iron-ore producer, has conducted an e-auction for sale of rough diamonds produced at its Panna diamond mines located in Madhya Pradesh.
The e-auction drew 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, a government statement said. Nearly the entire lot offered received bids.
The Majhgawan - Panna mine is the only mechanised diamond mine in the country.
According to Sumit Deb, CMD, NMDC Ltd, almost 100 per cent of the offered quantity received bids from the diamond merchants. “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,” he added.