According to media reports, August 30, Balvinder Kumar (Balvinder Kumar), the country's mining minister, said that the diamond project Bander, in which Rio Tinto has ceased to participate, will soon be transferred to a public company, or sold at auction.
Earlier this month, the mining company Rio Tinto has decided to discontinue the development of the project Bander, for which it has spent about $ 500 million. This was done to preserve the reserves and reduce costs.
Rio Tinto output from the project came as a surprise, since the company was close to obtaining a permit for use of natural resources from the Ministry of Environment.
It is reported that the Indian government wants to help in the development of mineral deposits of diamonds and gold from the company Rio Tinto and its competitors, for example, Anglo American.
"This is a commercial decision, which took the lead Rio Tinto, and nothing we could do about it, - said Kumar -. Bander - one of the best diamond mines in India, and we would like to start developing it."
Kumar said that he will discuss the future of the project with stakeholders, when Rio Tinto will officially hand over the project back to the state government Mahdia Pradesh, in which it is located. As the minister said, from the state government has a significant amount of diamond project data that can be distributed to potential investors and those companies who are ready to start developing Bander.
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