Advanced Search

India Seeks Investor for Bunder Project

Aug 30, 2016 8:39 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... India will auction the Bunder diamond-mining project or allocate it to a state firm after Rio Tinto pulled out of the venture earlier this month, Reuters reported.

"Bunder is one of the best deposits in India and we would like to make sure that it is tapped,” Balvinder Kumar, India’s Mines Secretary, was cited by the news service as saying. Rio Tinto will work with the government on the future of Bunder and was "looking at options for a third-party investor to carry forward the development of the project,” the official added. 

Kumar will talk with parties interested in the project when Rio Tinto formally hands it back to the state government of Madhya Pradesh, where it is located. Madhya Pradesh already has a large amount of data on the mine that can be shared with potential bidders or a government company willing to develop it, he pointed out.

Image: Copyright © 2016 Rio Tinto
Tags: Balvinder Kumar, Bunder, Bunder mine, Bunder Project, India, Madhya Pradesh, mining, Rapaport News, Rio Tinto
Similar Articles
Artisanal mining Sierra LeoneNew Project Aims to Restore Damaged Mining Land
May 09, 2022
Nongovernmental organization Resolve has launched a project to rehabilitate land affected by artisanal and small-scale diamond mining
© Copyright 1978-2022 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.