Rio Urges Speedy Clearance for Bunder Project

rio_tinto_logoNew Delhi: Sam Walsh, CEO of mining giant Rio Tinto has urged the Indian government to ensure speedy clearance to the Bunder diamond mining project in Madhya Pradesh according to media reports. He was speaking to the press during a recent visit to Delhi.

Walsh said that he has had three rounds of discussions with the Indian government during the past few months over Bunder, as well as other uranium and iron ore projects that the miner wants to develop in the country.

The Bunder project with a planned investment of $ 500 million was waiting for approvals from the forest and environment departments, he stated. It is the first new diamond mine discovered in India over the last four decades. Initial studies indicate that it has the potential to be one of the four most important sources of diamonds globally during the next decade.