Mines Management strikes diamonds in Krishna basin

For the first time in independent India, a private company has found diamonds in the Krishna river basin.

The finding is near the same location where the world famous Kohinoor and Hope diamonds were believed to be found.

Mines Management India Limited, a subsidiary of an American multinational which had licence for exploration of diamonds through drilling in the Krishna river, has met with success in finding diamonds in the riverbed near Jaggaiahpet in Krishna district.

"The diamonds which we found were of a superior quality too," D Janardhan Rao, director of Mines Management India Limited, told Business Standard.

According to Rao, the company has already completed the exploration work and is awaiting the Government of India's permission to start mining operations in the area. The company was given the licence for exploration across a 25-square km area in Krishna and Guntur district limits.

When asked about the proposed investment in the said project, Rao said it would depend on the number of dredgers required to be installed for mining.

"The company has ordered for dredgers which are being built in the United States. It will take some more time for us to share further details," he said.

Mining application for riverbed mining, covering the 25-square km area, has been processed by the Directorate of Mining, Andhra Pradesh government, and is being sent to the Government of India for permission, he said.