US, China and India are three main jewellery markets in the world, says Rio Tinto.
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.
It has signed a strategic alliance with the arm of global miner Rio Tinto for increasing its presence in India and abroad, NALCO said in a filing to the Bombay Stock Exchange. The agreement signed on Friday in Bhubaneswar, facilitates both companies to share information for identifying potential to create value for both the organisations, the filing added.
Albanese, 56, will take the helm on April 1.
ArcelorMittal, Anglo Australian major Rio Tinto, Hyderabad-based GVK Power & Infrastructure, Essar Mineral Resources and JSW Steel are among 10 prominent corporations in a shortlist to develop 18 abandoned coal mines owned by state-owned Coal India Ltd and its eight subsidiaries.
As of now, only Indian power, steel and cement companies can mine coal for their own consumption.
The mining major is selling the company to reduce its debt.
Pink diamonds cost at least 20 times more than processed white diamonds and only 40 to 60 pieces are available worldwide, with each stone weighing 40 to 60 carat.
Government will start to auction the rights to up to 70 diamond and gold exploration zones to mining companies this year
Prime Minister Narendra Modi's decision to open commercial coal mining to private players is a key step towards bringing order to the country's chaotic power industry and ending the chronic blackouts that impede its economic rise.
As the shadow of governance deficit and corruption back home threatened to lengthen behind the glorious Davos sun, India's image managers launched a spirited damage control exercise on the penultimate day of the World Economic Forum (WEF).
Setting up business in China has never been easy, with the constraints such as language, vast differences in cultural experiences and a form of government radically different from most of the western and Latin American countries where Indian businesses have firmly established themselves.
Vedanta may become a majority stakeholder in Cairn India.
India plans to double coal production by 2020
The shareholders will also get one redeemable preference share in Vedanta Ltd
India will allow locally registered foreign firms to mine and sell coal when commercial mining is permitted as part of the opening up of the nationalised industry after four decades, Coal Secretary Anil Swarup told Reuters.
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 prospect of a depleted Australia team struggling on home pitches against India in the coming summer could add further heat from broadcasters
Investors from across the globe are keen to invest in Gujarat.
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.
Prayas Jain has been arrested for allegedly buying secret documents.
Cairn has slashed its planned capital expenditure (capex) by 60 per cent to $500 million against the earlier $1.2 billion.
Hard to believe that some of these surreal places do exist.
Rajesh Bhayani examines what SEBI's approval of diamond futures trading means for the diamond market players.
Companies write off investments, shed assets as initial projections go haywire
Finance Minister Arun Jaitley has said the larger interest of the public sector would be fully protected.
In the past 12 months, such earnings have grown in double digits in Europe, the US, Japan and South Korea.
Decades of a state-owned monopoly selling coal at a fixed price has taken its toll on production.
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