The mine is likely to yield 37 million tonnes of kimberlite, containing about 27.4 million carats of diamonds and has a life of 25 years.
Albanese, 56, will take the helm on April 1.
The mining major is selling the company to reduce its debt.
Vedanta may become a majority stakeholder in Cairn India.
The shareholders will also get one redeemable preference share in Vedanta Ltd
India plans to double coal production by 2020
Prime Minister Narendra Modi is set to meet top Australian business leaders, including BHP Billiton CEO Andrew Mackenzie and HSBC Bank Australia CEO Tony Cripps, at a roundtable in Melbourne next week.
The United States maintained their push for a 2014 World Cup berth with a third straight victory in the final round of CONCACAF qualifying after Jozy Altidore's late strike saw off a stubborn Honduras 1-0 in Utah on Tuesday.
Prayas Jain has been arrested for allegedly buying secret documents.
Cricket Australia will draw up a 'charter' governing player behaviour in the wake of the ball-tampering scandal that has rocked the nation over the last fortnight, chairman David Peever said on Friday.
Faced with one setback after another in expanding the scope of mining in the country, almost all the major miners of the world have wound down their operations in India.
Construction companies will make money building detention centres. Information technology companies will make money on the enumeration of the CAA, NRC and NPR, notes Devangshu Datta.
Rajesh Bhayani examines what SEBI's approval of diamond futures trading means for the diamond market players.
Hard to believe that some of these surreal places do exist.
Investors from across the globe are keen to invest in Gujarat.
Companies write off investments, shed assets as initial projections go haywire
Cairn has slashed its planned capital expenditure (capex) by 60 per cent to $500 million against the earlier $1.2 billion.
Despite the strong anti-incumbency sentiment against the Shivraj Singh Chouhan government, the Congress neither had the strategy nor an organisation to cash in, says N D Sharma
