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Two young friends in central India found a diamond worth almost £50,000, a rare windfall in one of the country’s most deprived districts.
Satish Khatik, 24, and Sajid Mohammed, 23, found the 15.3-carat stone when they were working on a small plot of land in the state’s diamond-bearing district of Panna, which they had taken on lease just a few weeks ago. Madhya PradeshThe discovery was confirmed when the pair took the stone to the Panna Diamond office for appraisal,
“The estimated market value of the stone is Rs 5 million to Rs 6 million,” Panna’s official diamond appraiser Anupam Singh told BBC Hindi. This is between £41,400 and £49,700. “It will be auctioned soon.”
Diamond auctions under government supervision are held every three months in Panna, attracting traders from all over India and abroad.
Final prices are influenced by global benchmarks, including the Rappaport Report, a widely used reference for diamond pricing, as well as currency fluctuations. under Indian As per rules, 12 percent of the auction price is deducted by the state as royalty and tax, with the rest paid to the finder.
For Mr Khatik and Mr Mohammed, who earn their living by running a meat shop and a fruit shop respectively, the discovery could change their prospects. Both of them are youngest sons in low-income families.
Like many people in Panna, his family has been searching for diamonds for generations. Mr Mohammed said his father and grandfather excavated in the same fields for decades, and found nothing more than “dust and pieces of quartz”.
His father told the BBC that providence had finally rewarded his “hard work and patience”.
Panna, which is part of the Bundelkhand region, faces extreme poverty, water scarcity and unemployment, yet it contains most of India’s known diamond reserves.
Although India’s reserves are small compared to major global producers, they are still historically significant.
Most of the larger mines are run by the federal government, but each year local authorities lease small plots, usually eight meters wide, to residents for a nominal annual fee of about £1.6.
In the absence of stable jobs, many locals turn to diamond hunting despite long odds. Miners usually work by hand, digging shallow pits, scooping out soil, sifting it and sifting through hard work to sort out dry stones after work or on days off. Most people never pay attention to anything valuable.
Panna mining official Ravi Patel said the success of Mr Khatik and Mr Mohammed was extraordinary. News agency PTI quoted him as saying, “The two mined a precious diamond in Krishna Kalyanpur only 20 days ago and today deposited it in the Panna Diamond office.”
More than 60 diamonds have been deposited at the Panna Diamond Office this year, most of which are small or flawed. Indian Express Informed.
Last month, six farmers jointly discovered five stones, three of which were gem quality, with a total value of around £10,000.
Despite their exploration, Mr. Khatik and Mr. Mohammed said they are not making any major plans yet.
“We are not thinking of buying land, expanding our business or moving to a big city,” friends said. “For now, our focus is on getting our sisters married.”