Rio to hand over diamond mine to Madhya Pradesh

Rio Tinto Group has decided to gift the Bunder diamond deposit in India to the government of Madhya Pradesh, where the mine is located, after the producer stopped work on it last year.
 
The Bunder project was closed as Rio sought to cut costs and conserve cash. Under an order signed last month, the Madhya Pradesh government will take ownership of the assets, including all the land, plant, equipment, and diamond samples recovered during exploration, Rio said in a statement on Tuesday. The move is aimed at helping the state government package the assets in case there are future