Mining company Rio Tinto, is considering a pre-feasibility study at its Bunder diamond mine in Madhya Pradesh, India, which will entail around $75 million as investment. The study is likely to begin early next year. Expectations from the mine are being targeted at 2 million to 3 million carats as annual output.

The mining company is also exploring opportunities for diamond mining across others Indian states. It has been conducting exploration projects in the country for five years during which it has already invested over $20 million. The company cites domestic diamond demand of the country to increase in the future with the rise in disposable income and lifestyles of the Indian youth, reports say.