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MP: 26.11 carat diamond fetches Rs 1.62 cr in auction

Panna, Feb 27 (PTI) A 26.11 carat diamond found recently by a brick kiln operator in Panna was sold for Rs 1.62 crore, while 87 other rough diamonds fetched a total of Rs 1.89 crore during an auction held here in Madhya Pradesh, an official said on Sunday.

The auction was conducted on February 24 and 25 in MP’s ‘diamond city’ Panna, located 380 km from the state capital Bhopal.

On the first day, 36 diamonds collectively weighing 82.45 carats were sold for Rs 1.65 crore, Panna district collector Sanjay Kumar Mishra said.

Besides, 52 diamonds weighing 78.35 carats fetched Rs 1.86 crore on the second day.

During the auction, the highest price of Rs 1.62 crore was fetched by a 26.11 carat diamond, which was found in a mine here on February 21, the official said.

The auction for this precious stone started from Rs 3 lakh per carat and went up to Rs 6.22 lakh per carat, he said, adding that such a big diamond was found in Panna after a long time.

A local trader bought this diamond, which was found by Sushil Shukla, who operates a small-scale brick kiln business, in a shallow mine located in Krishna Kalyanpur area.

The proceeds will be given to the miner after the deduction of government royalty and taxes.

Panna district has reserves estimated to be containing diamonds worth 12 lakh carats, according to officials. PTI COR ADU GK GK

This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.

Source: The Print

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