Madhya Pradesh Labourers Unearth 17.96 Carat Diamond Worth ₹50 Lakh
Seven labourers in Madhya Pradesh's Panna district discovered a 17.96-carat diamond, estimated to be worth approximately ₹50 lakh. The precious gem, found in a leased shallow mine, is scheduled for auction in October.
Key takeaways
- Seven labourers in Panna, Madhya Pradesh, found a 17.96-carat diamond.
- The diamond is estimated to be worth approximately ₹50 lakh.
- The gem is scheduled to be auctioned in October.
- The labourers had leased the mine two years ago and recently reopened it.
- A 12% royalty will be deducted by the government from the auction proceeds.
Seven daily-wage workers have discovered a significant diamond in the Panna district of Madhya Pradesh, a region known for its gem deposits. The stone, weighing 17.96 carats, is preliminarily valued at around ₹50 lakh and is slated for auction in October.
The labourers, who had leased a shallow mine in Sarokha village two years prior, had temporarily suspended operations for a year. Upon reopening the mine recently, one of the workers, Akhilesh Pal, spotted the diamond near the surface. Pal indicated that the find is expected to significantly improve their lives.
What Happens Next
The 17.96-carat diamond is expected to be auctioned in October. Diamond officials anticipate that the stone will attract bids from both Indian and international buyers, potentially fetching close to ₹50 lakh. Following the sale, the government will retain a 12% royalty, with the remaining proceeds to be divided equally among the seven labourers.
Background
Panna is recognized as India's diamond-mining town, and discoveries of valuable stones are not uncommon for individuals working in leased mining areas. Previous finds in the region include an 11.19-carat diamond valued at approximately ₹30 lakh, and a 19.22-carat diamond that sold for ₹93 lakh at a government auction earlier in 2024.
Sources reviewed
Project Chintan independently synthesized and analyzed information cross-checked across the sources listed above.
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