Diamonds: India
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[http://epaperbeta.timesofindia.com/Article.aspx?eid=31808&articlexml=MP-labourer-finds-diamond-worth-Rs-10-lakh-25082016015029 ''The Times of India''], August 25, 2016 | [http://epaperbeta.timesofindia.com/Article.aspx?eid=31808&articlexml=MP-labourer-finds-diamond-worth-Rs-10-lakh-25082016015029 ''The Times of India''], August 25, 2016 | ||
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In Madhya Pradesh's happy hunting grounds for diamond diggers, where global mining giant Rio Tinto wrapped up exploration after a decade, a poor man from Panna district hit a jackpot, just 100km away from its Chhatarpur project. | In Madhya Pradesh's happy hunting grounds for diamond diggers, where global mining giant Rio Tinto wrapped up exploration after a decade, a poor man from Panna district hit a jackpot, just 100km away from its Chhatarpur project. | ||
Devidayal Reydas, 22, stumbled upon a 3.39 carat raw diamond and deposited it at the Panna office that holds an auction thrice a year. “This diamond is worth Rs 10 lakh. We will auction it in the next session and the money would be e-credited to Reydas's account after deduction of 11% royalty on cost,“ said Ratnesh Dixit, Panna's diamond officer.Dixit's office has received nearly 100 carat diamonds from 700 shallow mines this year. | Devidayal Reydas, 22, stumbled upon a 3.39 carat raw diamond and deposited it at the Panna office that holds an auction thrice a year. “This diamond is worth Rs 10 lakh. We will auction it in the next session and the money would be e-credited to Reydas's account after deduction of 11% royalty on cost,“ said Ratnesh Dixit, Panna's diamond officer.Dixit's office has received nearly 100 carat diamonds from 700 shallow mines this year. | ||
Panna draws diamond prospectors who dream of striking it rich overnight. It is estimated that diamonds worth crores are smuggled out of the state via Gujarat and the local administration has done little to end the illegal trade. Devidayal was just among those who tried his luck, but went the legal way . | Panna draws diamond prospectors who dream of striking it rich overnight. It is estimated that diamonds worth crores are smuggled out of the state via Gujarat and the local administration has done little to end the illegal trade. Devidayal was just among those who tried his luck, but went the legal way . | ||
Revision as of 13:36, 30 August 2016
This is a collection of articles archived for the excellence of their content. |
Contents |
Mahbubnagar's potential
The Times of India, Aug 10 2015
Syed Akbar
T'gana sitting on a bed of diamonds
The perennially drought-hit Mahbubnagar district could well turn out to be another Golconda, once famous as a city where diamonds were sold in heaps at roadside shops. The district, known for its largescale annual migration of labour, is virtually sitting on diamond mines that could change the fortunes of the nascent Telangana state, experts say . Researchers from the Centre of Exploration Geophysics, Osmania University, have identified as many as 21 new potential diamond zones in Mahbubnagar and villages abutting the border with Gulbarga and Raichur. Several places on the road between Mahbubnagar and Raichur are dotted with potential diamond zones.There have been several studies on the diamond potentiality of Mahbubnagar in the past, but this is the first time that about two dozen zones have been identified. Earlier, scattered potential diamond locations were identified in the area between the Krishna and Bhima rivers, and the KrishnaTungabhadra-Penna river zone. At least half a dozen government and commercial organizations are currently on a `diamond hunt' in the district. The Geological Survey of India had found three diamond zones in the past.
Prof G Ramadass, who carried out aeromagnetic studies over an area of 1,999 sq km, said the potential diamond zones were buried 1.2 km down in the earth and more ground research may yield the precious stones.
“We have found kimberlite pipes at 21 places. Though not all kimberlite pipes bear diamonds, there have been instances where diamond zones were found in Mahbubnagar. We need to undertake further studies to explore the diamond-bearing potentiality of these places,“ he added.Besides Ramadass, the OU team comprised M Preeti and A Subhash Babu.
2014: India world's No. 3 mkt for diamonds
The Times of India, Sep 22 2015
Partha Sinha
India world's No. 3 mkt for diamonds
India is not only the the second largest goldconsuming country , it has also become one of the largest markets for diamonds.With an 8% share for polished diamonds, India is now the world's third largest diamond consumer behind US (42%) and China (16%), the latest Diamond Insight report by global major De Beers showed. The Indian appetite for diamonds has grown at a tremendous pace: In 10 years, the Indian market nearly trebled in size to about Rs 22,000 crore by end-2014, and around 25 lakh pieces of diamond jewellery were acquired by Indian women in 2013, roughly six times the number acquired in 2002, the report pointed out.
“India's domestic diamond consumer market has achieved almost uninterrupted growth over the last two decades, with demand for dia mond jewellery expanding in 19 of the last 20 years in rupee terms,“ De Beers said. “The brief contraction in 2013, caused by the depreciating purchasing power of the rupee and a weakening of the broader Indian economy , reversed in 2014,“ it said.
The report also pointed out that as income is growing, Indian consumers are increasingly buying diamonds, which is reflected in the increasing volumes of diamond jewellery sales.
Panna
2016
The Times of India, August 25, 2016
P Naveen
MP labourer finds diamond worth Rs 10 lakh
In Madhya Pradesh's happy hunting grounds for diamond diggers, where global mining giant Rio Tinto wrapped up exploration after a decade, a poor man from Panna district hit a jackpot, just 100km away from its Chhatarpur project. Devidayal Reydas, 22, stumbled upon a 3.39 carat raw diamond and deposited it at the Panna office that holds an auction thrice a year. “This diamond is worth Rs 10 lakh. We will auction it in the next session and the money would be e-credited to Reydas's account after deduction of 11% royalty on cost,“ said Ratnesh Dixit, Panna's diamond officer.Dixit's office has received nearly 100 carat diamonds from 700 shallow mines this year.
Panna draws diamond prospectors who dream of striking it rich overnight. It is estimated that diamonds worth crores are smuggled out of the state via Gujarat and the local administration has done little to end the illegal trade. Devidayal was just among those who tried his luck, but went the legal way .
