In a report by Antwerp Facets News Service (AFNS) Rio Tinto said that it is prospecting sites for diamond exploration across India, which was considered the world’s main source for roughs until the eighteenth century.
Rio Tinto is reportedly prospecting in Andhra Pradesh, Karnataka, Chhattisgarh, Orissa and two other Indian states. Presently, it has almost finished its diamond exploration in Madhya Pradesh, and according the company’s India Managing Director, N. Senapati, Rio Tinto is now evaluating the worthiness of these prospects and is awaiting approvals from the Indian Supreme Court. The new unit in India would entail a cost of $500 million and a time span of eight to 14 years to begin commercial production.