Rio Tinto to invest $2.5 billion in two projects in India
- Global mining giant Rio Tinto will invest $2 billion to set
up an iron ore project in Odisha and another $500 million on a diamond mine in
- An iron ore project in Odisha with a $2 billion investment
potential and a half a billion dollar investment in Madhya Pradesh in diamonds.
- The projects are, however, stuck as the company has not yet
got environment clearance.
- Mr. Walsh stated that he had talks with Prime Minister
Narendra Modi on the planned $500-million investment in Bunder diamond mine in
- The company claims that once developed, the Bunder mine is
expected to place Madhya Pradesh in the top ten diamond producing regions of
- Rio Tinto has a proven record of world-class diamond
- The most advanced exploration project is at Bunder in Madhya
Pradesh where Rio Tinto has discovered a cluster of eight diamondiferous pipes.