MNC gets diamond prospecting licence | india | Hindustan Times
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MNC gets diamond prospecting licence

india Updated: Jul 22, 2006 01:52 IST

THE CENTRE has cleared the licence to multinational company ACC Rio Tinto for diamond and gold prospecting in 25 km radius in Panna and Chhatarpur district.

The company had explored the Bundelkhand region under Reconnaissance Permit (RP) and claimed to have detected 14 kimberlite pipes along with traces of gold deposits.

With this, Madhya Pradesh has become the first State in the country where the same company got reconnaissance and then prospecting licence (PL) for precious ores’ exploration.

Confirming this, Minister of State for Mining, Laxmikant Sharma told Hindustan Times that applying for PL itself was an indication that the State has vast mineral wealth.

The development only confirms that Bundelkhand region is endowed with precious metals like diamond, gold, silver and platinum, he added.

Sharma expressed the hope that if these findings materialised in the future and were found to be economically viable, not only some pockets of the State would witness a lot of developmental activities but would also fetch tremendous revenue.