Emerald. Diamond business is going to get a new momentum in Panna district of Madhya Pradesh. For the first time, a joint auction of diamonds obtained from the Majhgawan diamond project and shallow mines of the National Mineral Development Corporation (NMDC), the country’s only mechanized diamond mine operating company, will be held in Panna. The much-awaited auction is scheduled between March 15 and 30 at the newly constructed Heera Office Complex.
Till now, auctions of diamonds from NMDC’s mines and shallow mines have been held separately, but for the first time, diamonds from both the sources will be auctioned on a single platform. This will enable local traders and big buyers to have access to a wide variety of diamonds at one place. According to administrative officials, the joint auction will increase competition and are likely to yield better prices. Resumption of mining and now organizing joint auction is expected to infuse new energy into the diamond industry of Panna.
The only mechanized diamond mine
NMDC’s Majhgawan Diamond Project is the only mechanized diamond mine in the country with a state-of-the-art ore processing plant. The hall of the newly constructed Heera Office Complex is being prepared keeping the joint auction in mind. Air conditioning arrangements have been completed, while work on furniture and other basic amenities is in the final stages. The administration claims that this time the auction will be conducted in a completely systematic and transparent process.
Production remained closed for three years
It is noteworthy that due to the expiry of environmental clearance on January 1, 2021, mining work in Majhgawan diamond mine had to be stopped. Production came to a complete halt for almost three years, affecting employment and business at the local level. Mining was started again in March 2024 after getting permission from the Ministry of Environment, Forest and Climate Change. NMDC has received approval for re-mining on two mining leases.
