Hyderabad: A sparkling 27.29-carat gem-quality diamond has been discovered at NMDC Limited’s Panna mining project in Madhya Pradesh, giving the Hyderabad-based Navratna PSU one of its biggest finds yet and marking the second-largest diamond recovered from the mine in the company’s history.The diamond was recovered on Sept 15, 2026, from NMDC’s Majhgawan mine in Panna. The company’s largest diamond discovery at the site remains a 34.37-carat gem-quality stone that was recovered in 2010 and later sold for Rs 3.2 crore.
Hyderabad-based Navratna PSU NMDC Ltd has mined its second largest diamond of 27.29-carat from its Panna mine in Madhya Pradesh
NMDC officials indicated that the newly recovered diamond has initially been estimated to have a minimum auction price of around Rs 1 crore, based on its colour, carat weight, clarity and S-shape characteristics, but the final value could rise to Rs 2 crore to Rs 2.5 crore depending on the prescribed evaluation and auction process.The Panna project is one of NMDC’s non-iron ore mining operations and is the only mechanised diamond mining project in South Asia. The mine has an annual production capacity of 84,000 carats and supports domestic sourcing of high-value minerals for the Indian economy.NMDC said its Panna operations produced about 6,000 carats of diamonds up to August in FY 2027, adding to the company’s diversified mineral portfolio beyond iron ore.NMDC chairman and managing director Amitava Mukherjee said: “The recovery of a 27.29-carat diamond, the second-largest from our Panna mine, is a moment of pride for NMDC. It is a testament to the dedication of our teams and the potential of India’s mineral resources. We remain committed to responsible mining and developing our diversified mineral portfolio.”NMDC began exploration and preliminary diamond mining operations in Panna district in 1965. It formally acquired the Panna diamond project at Majhgawan between 1966 and 1968 and expanded early-stage excavation. Commercial, fully mechanised production at the Majhgawan mine began in 1971-72.The company has focused on extracting diamonds from existing ore stockpiles along with carefully regulated open-cast bench mining to balance environmental safeguards with economic returns.
