Madhya Pradesh, India
Mining giant Rio Tinto has discovered a new diamond resource in Madhya Pradesh, a central state in India. Nik Senapati, the managing director of Rio Tinto India, stated that the resource may contain as much as 37 tonnes of diamonds. Senapati estimated the grade of the inferred resource of the diamonds at 0.7 carats per tonne.
Rio Tinto is expected to invest hundreds of millions of dollars in the new diamond resource, with the exact size of the investment depending on the distribution of diamonds in the pipes, hardness of rocks, and other factors.
Over the last four years, Rio Tinto has spent approximately US $60 million searching for diamond resources in India, with the bulk of the money going towards exploration in Madhya Pradesh.
Rio Tinto is one of the world’s leading mining companies, producing aluminum, copper, diamonds, energy products, gold, industrial minerals, and iron ore from locations on every continent.
