Essel Mining & Industries Limited (EMIL) have participated in the auction process of Bunder Diamond Block (Mining Lease) in Chhatarpur District of Madhya Pradesh and won the block through competitive bidding. Letter to Intent for Grant of Mining Lease has been issued by Government of Madhya Pradesh in favour of EMIL during Dec 2019.
Bunder Diamond Block is a Greenfield Mining Project covering an area of 364 Ha in Buxwaha Protected Forest and located near Village Sagoria of Buxwaha Tehsil in Chhatarpur District of Madhya Pradesh. The project is about 80 Kms from Chhatarpur, the district headquarters and 260 Km from Bhopal the state capital. NMDC existing diamond mine is about 175 Kms from the Bunder. The project has been explored by M/s Rio Tinto Exploration India Private Limited (one of the largest mining company in the world). The estimated resources in the block is around 53.70 Million Tonne of Kimberlite Ore containing about 34 Million Carats of rough Diamonds.
EMIL plans to develop a fully mechanized opencast mine and state of the art processing plant for recovery of Diamonds with an investment of around INR 2500 Cr. The project once operational have the potential to become one of the largest Diamond mine in the Asian region. EMIL is currently in the process of obtaining various regulatory clearances such as approval of Mine Plan, Environment & Forest clearances required for execution of mining lease. The company targets for execution of Mining Lease by end of FY22 and thereafter initiate the mine development and plant construction activities.