After a wait of almost four months, State may finally be able to auction its first diamond mine. Four bidders have technically qualified for the Hatupur diamond block in the Panna district of the state after the first failed attempt though the names of the bidders could not ascertained.
The first notice inviting tender (NIT) was issued by the MP government on May 4 this year. However, the mine auction process was cancelled as only two bidders qualified. According to the tender provision, in the event of technically qualified bidders being less than three, no one is considered to be a qualified bidder and the e-auction process is cancelled.
The mineral resources department of MP on July 30 brought a fresh NIT for grant of composite license for the diamond block. A composite license holder conducts the geophysical exploration of the area to find out the exact reserve of the mineral and starts mining later on.
“The technical bids of the bidders for limestone blocks and diamond block were opened on September 3. A total of four bids were received for the Hatupur diamond mine and all of them have been technically qualified,” said a senior government official.
The area of the Hatupur block is around 136 hectare, with the value of the reserve estimated to be Rs. 106 crore. The kimberlite reserve (diamond mineral-bearing Itwa conglomerate) in the block is expected to be around 0.604 million tonnes with diamond reserves of 500 carats (a unit of mass for gemstones). The lifespan of the mine is around 25 years.