Sapphire auction in JK generates Rs 13.1 crore

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Jammu, Mar 13: State-owned Jammu and Kashmir Minerals Limited earned Rs 13.1 crore from the two-day auction of the precious stone Sapphire here. The auction was organized for the sale of rough sapphire corundum (Neelam) extracted from the sapphire mines in Paddar area of Kishtwar district. ''As many as 72 bidders from all over the country and abroad participated in the auction, which was presided over by the Minister for Industries and Commerce Nawang Rigzin Jora last evening,'' said an official of Jammu and Kashmir Minerals Limited.

''We have planned to make it a regular feature and next auction is likely to take place in six months,'' an official said adding that around 17-kilograms of rough sapphire corundum (Neelam) which was mined out between 1998 and 2004 from sapphire mines of Paddar in Kishtwar district was auctioned on the occasion.

UNI

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