India’s Treasure Hunt: The Bunder Diamond Mine
The Bunder diamond project, located in the Bundelkhand region of Madhya Pradesh in India, is Rio Tinto’s most advanced diamond project worldwide. It is the first diamond discovery in India for over 40 years and one of only four new diamond mines likely to become functional globally in the next ten years.
The original discovery was made as part of a regional exploration reconnaissance in 2004, and in 2012, the State Government of Madhya Pradesh allowed Rio Tinto to commence the Mine Plan. Once production starts, according to Rio Tinto, Bunder would rank, in volume and value terms, in the top 10 diamond producing regions in the world.
According to Rio Tinto’s website, Bunder has a diamond resource seven times richer than the Panna diamond mine, the only operating diamond mine in India, with a likely production rate at least 20 times greater than Panna. According to a recent article by India’s Economic Times, Rio Tinto will invest $500 million in the project.