State-owned mining giant NMDC Limited announced a significant discovery on September 15, 2026, with the recovery of a 27.29-carat gem-quality diamond from its Diamond Mining Project (DMP) in Panna, Madhya Pradesh. This remarkable find marks the second-largest diamond ever unearthed from the Panna mine.
The newly discovered stone, characterized by its gem quality and unique S-shape, has been initially estimated to be worth approximately ₹1 crore based on its color, carat weight, and clarity. NMDC has clarified that the final valuation and sale price will be determined following a prescribed evaluation and auction process.
A Milestone for Panna Diamond Mining
The 27.29-carat diamond represents a significant achievement for NMDC's Panna operations. The company shared news of the recovery via a post on X (formerly Twitter), highlighting it as a "sparkling milestone." This discovery follows closely on the heels of another substantial find in July 2026, when a 13.16-carat gem-quality diamond was recovered from the same project.
Historically, the largest diamond discovered by NMDC at Panna was a 34.37-carat gem-quality stone found in 2010, which was subsequently sold for ₹3.2 crore. The latest 27.29-carat recovery underscores the continued potential of the Panna mine, which up to August in fiscal year 2027, had already yielded around 6,000 carats of diamonds.
NMDC's Role in India's Diamond Sector
NMDC's Panna Diamond Mining Project stands as India's sole mechanized diamond mining operation. As a non-iron ore venture for the company, it plays a crucial role in the nation's gemstone production. The consistent recovery of high-value diamonds reinforces NMDC's position in the global diamond market and contributes significantly to the local economy of Madhya Pradesh.
The company remains committed to transparent processes, ensuring that all recovered diamonds undergo rigorous evaluation before being offered through public auctions to determine their true market value.