RIL Subsidiary Receives Diamond Mining Licence

5 November 2009 (Last Updated November 5th, 2009 18:30)

Reliance Industries' (RI) exploration and production subsidiary has received a prospecting licence for diamond mining from the Madhya Pradesh Government in India. The licence will enable the subsidiary to carry out prospecting work in the state of Madhya Pradesh, according to The Eco

Reliance Industries' (RI) exploration and production subsidiary has received a prospecting licence for diamond mining from the Madhya Pradesh Government in India.

The licence will enable the subsidiary to carry out prospecting work in the state of Madhya Pradesh, according to The Economic Times.

The prospecting licence, which has been issued in two parts, also covers copper, gold, zinc, lead and silver.

The first part of the licence includes a 1,084km2 area while the second part covers 735km2 in three districts.

RI will invest $212.43m in the prospecting activity.

Excluding RI, Australia's Rio Tinto is the only company to conduct diamond prospecting activity in Madhya Pradesh.