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Rio Tinto's Partnership Model to Drive Diamond Jewelry Growth in India

Dec 11, 2014 7:51 AM   By Rio Tinto
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Press Release: Rio Tinto has underscored the importance of its strategic partnership in India in driving growth and future opportunities in the global diamond industry. Speaking at the World Diamond Conference in Delhi, Rio Tinto Diamonds' managing director, Jean-Marc Lieberherr, said, “Our partnership with the Indian diamond industry is a 30-year journey that covers everything from diamond manufacturing technology, to unique market development initiatives and the first diamond discovery in India in decades.

“Development of our Bunder diamond project in Madhya Pradesh is a natural continuation of the partnership model and would put India among the top 10 diamond producing countries in the world.

“The Bunder project is positive proof of the natural abundance and prospectivity of India and provides the ideal opportunity to showcase a new benchmark for mine development in India. The opportunity to produce diamonds mined, manufactured and marketed in India on a commercial scale is exciting and very much aligned to the ‘Make in India’ campaign.”

The Bunder diamond project, discovered in 2004 and currently awaiting approvals, will generate an estimated 30,000 jobs and huge economic benefits for India. Rio Tinto’s Argyle diamond mine in Australia will be delivering increased volume from 2015, which will have a direct impact on the Indian manufacturing sector. Further downstream, Rio Tinto Diamonds is continuing its focus on the retail sector with its flagship Indian marketing initiative, Nazraana™, which promotes affordable diamond jewelry as gifts for all occasions.

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Tags: branding, diamond jewelry, India, Rio Tinto
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