Russia to continue buying diamonds through state fund in 2025
The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems.
Rio Tinto Diamonds is delighted with the 100% pass rate in recent high school examinations for local children in the communities surrounding its developing Bunder diamond mine in Madhya Pradesh.
In a unique programme the community relations team at Bunder has been providing coaching centres for local children who had been unable to continue high school either because of lack of resources or because they have to travel long distances to get to school. Girls, who traditionally have not been encouraged to complete high school, have been a particular focus of the project.
According to Santosh Pathak, Community Relations Advisor at Bunder, “We were delighted to hear of the results and wonderful to see the girls who were at risk of dropping out of school, complete their high school examinations and receive their grades on the eve of International Women’s Day. The overall top student was a girl from the nearby Majhora village.”
The genesis for the coaching clinics came from a 2009 survey conducted by Rio Tinto Diamonds, where many of the girls expressed a desire to complete their exams. Evening coaching classes were set up in the villages and today there are 249 students (123 girls and 126 boys) studying in five coaching centres. The Bunder team has also invested significant energy in supporting children to stay at school by providing resources such as study desks, sports kits and library materials for more than 45 under-equipped schools.
“We have a vision for these children to share the benefits that new industries like ours bring to the region.
Improving educational opportunities and empowering girls in Madhya Pradesh – where female literacy rates are extremely low – is a particularly important objective”, said Santosh Pathak.
Women’s empowerment through health, nutrition, childcare and education and training initiatives has been a constant feature of the Bunder project’s work on the ground since 2004. In 2012 its inaugural jewellery collection, Courageous Spirit, was dedicated to the women of Madhya Pradesh.
About the Bunder diamond project
The Bunder diamond project was discovered in 2004 by Rio Tinto and in 2010 a State Support Agreement was signed with Government of Madhya Pradesh as an endorsement of the mutual commitment to the development of the project. An Inferred Resource (the first quantifiable estimate of an ore-body) has been defined as 37 million tonnes, containing 27.4 million carats. The Government of Madhya Pradesh gave in principle approval to the issue of a mining lease for the Bunder project via a “Letter of Intent” in January 2012. Rio Tinto is now working on the mine plan, environmental and forestry approvals required to execute a Mining Lease. At least rupees 2200 crore (US$500M) will be required to fully develop the Bunder diamond project. Once developed the Bunder diamond mine is expected to place Madhya Pradesh in the top ten diamond producing regions of the world. www.riotintoindia.com
