Govt wants private sector to explore for diamonds, gold

NEW DELHI: The government is seeking the participation of Rio Tinto and Anglo American’s De Beers to explore for diamonds and gold, part of Prime Minister Narendra

NEW DELHI: The government is seeking the participation of Rio Tinto and Anglo American’s De Beers to explore for diamonds and gold, part of Prime Minister Narendra Modi’s ambition to make the country a major mineral producer, mines secretary Balvinder Kumar said. It will start to auction the rights to up to 70 diamond and gold exploration zones to mining companies this year, he added. India stopped producing diamonds years ago and produces only a small amount of gold, although it is the world’s second-biggest consumer of the yellow metal. The blocks that will go on sale are among 100 mineral zones identified by the Geological Survey of India following an aerogeophysical assessment.

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