Diamond of 10.69 carat worth Rs 50 lakh discovered in MP’s Panna district

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A 10.69 carat diamond valued at approximately Rs 50 lakh has been dug up from a shallow diamond mine in Madhya Pradesh’s Panna district, a mineral resources department official confirmed. The mine was leased by a labourer who does odd jobs to earn a living.

Anandilal Kushwaha, 35,  owns the lease of the 64 square metres shallow mine in Ranipura area of the district where the diamond was found. Usually, such a shallow diamond mine of 64 square metres is awarded on a lease for Rs 200 for six months. 

A mineral resources department officer at Panna district said, “Anandilal Kushwaha deposited the 10.69 carat diamond to our office and it may fetch about Rs 50 lakh when it is auctioned in the coming days,” according to a Hindustan Times report. This is the second time that Kushwaha has found a diamond in his mine.

The quality of the diamond is supposed to be good.  Being palm shaped, it will require less cutting. A royalty tax of 11.5% and 1% TDS will be deducted from the amount of money received through the auction.

Kushwaha had engaged eight other people to help him dig the mine. He said that he will distribute the money from the auction of the diamond equally among everyone. “Though the (lease of the) mine was awarded to me, I will distribute the amount fetched from auction of the diamond equally among all nine of us as it was our collective efforts in the past six months that we could get such a precious stone. I will spend the money on the education of my son and daughter and other requirements of the family. But one thing is certain that I will continue to apply for lease of mines,” Khushwaha said to the local MP media.

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