MP: Diamonds found by 2 in Panna fetch Rs 1.89 cr in auction

Two people who found a diamond each in the Panna mines of Madhya Pradesh have struck it rich after they fetched a cumulative price of Rs 1.89 crore in a state government organised auction here, an official said on Friday.

The auction of 261 diamonds weighing 316.33 carats found in mines in Madhya Pradesh's Panna district started on Tuesday and concluded on Thursday.

"A 29.46 carat diamond found by miner Brajesh Upadhyay was auctioned for Rs 1.16 crore. An 18 carat diamond found by another man, Radheshyam, was sold for Rs 72.61 lakh," said Panna Diamond Officer RK Pandey.

The two will get the amount after 12 per cent royalty is deducted, he said.

Upadhyay had found the diamond during excavation at Krishna Kalyanpur in September last year, while Radheshyam had found his diamond in the same area in December, 2018, the official said.

Incidentally, the diamond found by Radheshyam could not be sold in the previous two auctions.

"Some 150 diamonds weighing 187 carats, including those found by Upadhyay and Radheshyam, were sold for Rs 2.43 crore during the three day auction. Those who purchased the diamonds will have to deposit 20 per cent within two weeks and the rest of the amount within a month," Pandey informed.

Panna district, some 385 kilometres from state capital Bhopal, is estimated to have diamond reserves totalling 12 lakh carats, officials said.

A carat is a unit of mass equalling 200 milligrams and is used for measuring diamonds and other such gems.