NMDC holds e-auction of 8,337 carats rough diamonds

New Delhi: State-owned NMDC on Thursday said it has conducted an e-auction of 8,337 carats rough diamonds produced at its Panna diamond mines in Madhya Pradesh.

In a statement, the state-owned miner said the e-auction process received an overwhelming response from Diamond merchants of Surat, Mumbai and Panna. "NMDC conducted an e-auction for sale of rough diamonds produced at its Panna Diamond mines located in the state of Madhya Pradesh.

About 8,337 carats of rough diamonds, produced prior to December 2020, were offered in the auction and almost 100 per cent of the quantity received winning bids," it said.

The company did not disclose further details on the e-auction process. NMDC's diamond mining project at Majhgawan Panna happens to be the only mechanised diamond mine in the country.