Rio Tinto Unveils First Jewelry Set With Diamonds From Indian Mine
August 24, 12
 The Courageous Spirit Collection set with diamonds from the Bunder mine |
Named the Courageous Spirit Collection, the jewelry is dedicated to the women of the state. It is set with 25 carats of diamonds, of which 5 carats are whites and 5 carats ‘cognacs’. It also includes 2.8 carats of uncut diamonds.
This is the first time in a century that
The diamonds set in the jewelry were cut and polished by Mahendra Brothers and Venus Jewel, while the jewelry was fabricated by Uni-Design, making the collection fully Indian – from mine to jewelry.
Rio Tinto Diamonds General Manager for Marketing Jean-Marc Liberherr told IDEX Online that the Bunder mine’s diamond reserves were estimated at 24 million carats and it was expected to produce some 2 million carats of rough annually during the 10-15 years of the mine's life.
He added that no decision had been taken on how to market the rough, but that the output lent itself to differentiated marketing and was thus unlikely to be put through a generic marketing channel.
Rio Tinto Diamonds global Managing Director Bruce Cox said it was extremely satisfying that the first jewelry was produced just seven years after work started at Bunder.
The mine is slated to come up to full production by 2016.
Currently, the mine employs 400 people, but the personnel strength is set to increase to around 1,000 by full production time. Cox said the mine would indirectly provide employment for between 6,000 and 8,000 people including diamond manufacturers and jewelry fabricators.
Shivraj Singh, Chief Minister of Madhya Pradesh, said he was pleased that 70 percent of the mine’s current personnel were locals and added that the state was eager to reap the fruits of local beneficiation with the development of a diamond cutting industry in the state and jewelry fabrication as well.
The jewelry will not be sold but used for promotional purposes by both Rio Tinto as well as the state of Madhya Pradesh.