NMDC finds traces of diamonds in Orissa, Karnataka & AP

Explorations in the three states have resulted in discovery of 41 kimberlite and 13 lamproite pipes, which are indicative of possible diamond deposits underneath

The country's largest iron ore miner NMDC Ltd and the world's leading diamond producer De Beers have found traces of diamond deposits in Orissa, Andhra Pradesh (AP) and Karnataka, reports PTI.

Surveys are also underway in these states to detect gold deposits, the government has said. It said explorations in the three states had resulted in discovery of 41 kimberlite and 13 lamproite pipes, which are indicative of possible diamond deposits underneath.

Kimberlite and lamproite are solidified volcanic magma and work as elevators to bring diamonds with other minerals to the earth's surface.

"So far, a total of 339 Reconnaissance Permits (RPs) have been issued covering an area of 4,66,556 sq km, out of which aerial surveys have been conducted in 27 RPs," an official statement by the mines ministry said.

It said that kimberlite and lamproite were discovered in Kalahandi, Nawarangpur, Nuapada and Bolangir districts of Orissa and in Kurnool, Prakasam and Anantapur districts in Andhra Pradesh. Explorations by CRA Exploration India in AP indicated discovery of several mineralised zones in Anantapur and Kurnool districts.

In Karnataka, these were discovered in Gulbarga district. The ministry said exploration permits had been given to several companies.

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    Borkar M.R.

    1 decade ago

    On the eve of disinvestment, such news,( real/planted or may I call it - advertised,) will appear is it not an attempt to lure the investors?

    Newsviewer   Exclusive
    Will there be water in Lodha’s ‘Aqua’ project?

    Amid the raging water crisis in Mumbai, the Lodha Group claims that it will provide two swimming pools, a clubhouse with a waterfront café and 10 acres of waterscape at its ‘Aqua’ project in the city

    The Lodha group is busy advertising its project ‘Lodha Aqua’, a luxurious residential project near Dahisar (a Mumbai suburb). According to an advertisement published in a newspaper, the Lodha group claims that it will provide two swimming pools, a clubhouse with a waterfront café and 10 acres of waterscape in its project. But how will the developer provide water for these facilities, in face of the 30% water cut imposed by the Brihanmumbai Municipal Corporation (BMC) since July 2009?

    The ‘Lodha Aqua’ project was launched in 2007. On the first day of the launch, the group claimed that it managed to sell approximately 300 units at Rs5,850 per sq ft for a two bedroom, hall & kitchen (BHK) covering an area of 1,017 sq ft and a three BHK at Rs1,395 per sq ft (for an area of 1,395 sq ft). In December 2009, the group jacked up the price for the project to Rs6,399 per sq ft.

    Earlier, the project had three towers—Pacifis, Atlantis and Artica. Now the developer has added one more tower named Antarctica. The project was supposed to have been completed by March 2009, but now according to the draft red herring prospectus filed by the Lodha group in September 2009, the project will be completed by June 2010.  

    If the developer has already sold 300 units on the first day of the launch three years back, why is the company spending so much on advertising? The group is busy coming out with full-page advertisements and is booking prime advertising time on various channels to promote the project.

    Moneylife contacted a Lodha spokesperson to know how the group was planning to fill the empty swimming pools and jacuzzis with water, but the company declined to comment. According to a few residents of Dahisar, Mira Road and Bhayandar (all Mumbai suburbs), they get water supply once in a day for only four hours. A few buildings in Mumbai are also hiring water tankers because of the shortage. 
    In Mumbai, the water shortage problem started in 2001. In October 2001, BMC had made it mandatory for new buildings coming up after October 2002 to install rainwater harvesting systems to combat the water shortage.

    But Lodha’s project—with all its advertised water bodies—has no water harvesting facility. BMC has also announced that it will not provide connections to new projects that require more than 2 lakh litres per day of water (at an average of 90 litres per person per day). The moot question is, when there is such an acute scarcity of water, how will the Lodha group manage to fill its much-touted swimming pools?

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    7 years ago

    is there any lodha resident here , actually i am planning to buy a ready possession investor's flat in lodha aqua . but my friends told me that there are hidden dance bars around that area. do u guys ever faced any trouble due to unpleasant atmosphere around ???plz reply soon as i need to make a decision

    Vaibhav Kumar

    9 years ago

    This group has not completed a single project in time and have already launched atleast 20 projects so far. The worst builder in Mumbai... need some strict action from govt. in the custmer's interest. I will not any one to book a flat in this group as the foundation of marketing itself on false promises and many frauds.


    1 decade ago

    Note the followin facts:
    1. Lodha Aqua will not fall under BMC limits
    2. The project always had 4 wings and nothing is added on
    3. There would be 660 flats in the projet on completion.


    1 decade ago

    You guys at Moneylife are amazing. Anyone who does not agree with you and you take off the comments. That is pretty balanced and neutral reporting. Anyone would assume that there is something going wrong here. More honesty expected.

    Abhishek Dutta

    1 decade ago

    It's not new that the lodha group has been lying to its customers, I've booked a flat in Lodha Aqua in the month of April 2009 and was promised posession by the month of June 2009 initially, I've a pre sanctioned loan from LIC, The builders representative have been sending multiple claims till plaster since April 2009, in September when the evaluator from LIC visited the site he found out that the claims raised by Lodha was false and cleared payments only till slab 12, the Lodha Group again raised a claim in December till plaster, the evaluator again found this to be a false claim and did not clear the entire claim raised by the builder. on top of this the lodha group has been forcing me to pay an extra interest charge on the balance amount not cleared by LIC housing finance for around INR 80000/-because LIC is not clearing the payments citing false claims from the builder's end. A cheque from the LIC housing finance after the new claim has been ready since more than two weeks now but the lodha group refuses to recieve the cheque until I pay the interest charges levied on me forcefully.


    1 decade ago


    Not sure if your analysis could be trusted. Firstly, the project is under Bhayandar and Mira-Road Municipal Cooperation and hence don't think is related to BMC. Secondly, the project has five sources of water. At least, that is what the Lodha Group promised to their customers. The 5 sources of water are:-
    1. Rain Water Harvesting
    2. Recycled Water
    3. Borewell
    4. Mineral water in Kitchen Through Tap
    5. Municipal Water supply


    bhawna rajput

    In Reply to Mandar 9 years ago

    lodha aqua is indeed one of the biggest cheats in the business of contruction....i have purchased a flat at lodha aqua artic a in 2008 and the possesion was due in may 2010 as told by the lodha executives....but some how the dates just kept delaying further and further and till now waiting for possesions..but they do one thing very effeciently taking interest on amount but no compensation from their side....putting up banner for one project taking money from customers but introducing 4-5 more new projects...and delaying projects unneccesarily.......

    Coal India buys mining equipment worth Rs2,000 crore

    CIL has bought mining equipment from foreign companies, including Caterpillar and Atlas Copco, to boost productivity of its Chhattisgarh mines

    State-owned Coal India Ltd (CIL) has bought mining equipment worth Rs2,000 crore from foreign companies, including Caterpillar and Atlas Copco, to boost productivity of its Chhattisgarh mines.

    "We bought this equipment at an investment of Rs2,000 crore from companies like Caterpillar, Bucyrus and Atlas Copco. We have commissioned this sophisticated equipment at our leading mines in Chhattisgarh for improved mining," Coal India chairman Partha S Bhattacharyya told PTI.

    The mining equipment was commissioned at Dipka and Gevra coal mines earlier this week, which together produce about 60 million tonnes (MT) of coal.

    "These mines will comprise 15% of the production target of our current financial year," he added. CIL has planned to produce 435MT of coal in 2009-10.

    The demand-supply gap for coal in the country is estimated at around 70MT for the current fiscal and is forecast to double in the next two years.

    The coal major has also lowered its annual production target for 2011-12 to 486MT from the earlier 520MT on account of delays in securing clearances for its expansion projects. "This equipment will help us remove the overburden on the mines, (help us to) penetrate deep and produce more," he added.


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    Shadi Katyal

    1 decade ago

    It is nice to read that a PSU has bought all this modern equipment but who will run and repair it.
    Has the union in the past not let the supply of coal decrease every year due to lack of working ethics. After all it is all GOI project and not private .
    How is this PSU different than others ??
    Will thered be any accountability and production figures available sfter say a month?

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