India’s first diamond mineral block auctioned in Panna, MP

Q.  In which state has India’s first diamond mineral block been auctioned on 5th Oct, 2016?
- Published on 10 Oct 16

a. Madhya Pradesh
b. Maharashtra
c. Manipur
d. Meghalaya

ANSWER: Madhya Pradesh
 
India’s first diamond mineral block auctioned in Panna, MPIndia’s first diamond mineral block has been auctioned in Madhya Pradesh. In a first, a diamond mineral block in MP’s Panna district having precious stone deposit worth INR 106 crore has gone under the hammer.
  • Hatupur Diamond mineral block was successfully auctioned on Oct 5, 2016 in Panna district
  • This is the first diamond mineral block in the country, which went under the hammer
  • Bansal Construction Works emerged as the preferred bidder by submitting the highest final price after two rounds of competitive bidding
  • The block is under G3 category and is spread over an area of 133.50 Ha.
  • It has 0.604 MT of inferred resources with diamond incidence of 10.20 carat/100 tonnes.
  • An additional revenue of INR 25 crore is estimated from a block to the state government over the mining lease period
  • The royalty and other statutory payments over the lease period are estimated at INR 11 crore
  • SBI capital markets was the transaction adviser for the auction process
  • MP is aimed to become the top mining destination in the country

Related Content

➨ Post your comment / Share knowledge


Enter the code shown above:

(Note: If you cannot read the numbers in the above image, reload the page to generate a new one.)
▲