The National Mineral Development Corporation (NMDC), India’s state-owned miner, producer and exporter of iron ore, is reported by Gem Konnect to plan a bid for the Bunder diamond mine. The Bunder mine is valued at $9 billion and is being offered for sale by the state government of Madhya Pradesh.
Rio Tinto, the previous owner of the mine, abandoned Bunder earlier this year, “after spending a decade and an estimated $190 million on prospecting and development work”, according to the piece.
In February of this year, Rio Tinto announced that it is giving away its Bunder diamond project to the Government of Madhya Pradesh “after a comprehensive review”, according to the company.
