Fura Gems eyes Bunder diamond mine in MP as Rio Tinto exits project

Bunder project in Madhya Pradesh is the only operational diamond mine in India on which exploration is estimated to become viable

A year after global miner Rio Tinto surrendered its mineral exploration licence for the Bunder project to the Madhya Pradesh government, Canada-based Fura Gems has evinced interest in acquiring the mine for diamond mining.

Founded in 2017, Fura Gems is a start-up that currently operates a ruby mine in Mozambique and an emerald mine in Colombia. The firms acquired these mines in November 2017 and January 2018, respectively, to mark its presence in the exploration of colour gemstones.

Listed on Toronto Stock Exchange, Fura Gems has already submitted its intent to the Madhya Pradesh government for commencing exploration on Bunder