Diamonds worth INR 120 Mn were sold through the auctionDownload PDF (180 KB)
Geography: Panna and Mumbai, India
Client: National Mineral Development Corporation (NMDC)
Challenge:Sell rough diamonds to right buyers at the best market price
Solution: An online auction
Results: Diamonds worth INR 120 Mn were sold through the auction
National Mineral Development Corporation (NMDC) was Incorporated in the year 1958 as a Government of India fully owned public enterprise. NMDC is under the administrative control of the Ministry of Steel, Government of India and has been involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc..
NMDC is India's single largest iron ore producer, presently producing about 30 million tons of iron ore.
In recognition to the Company's growing status and consistent excellent performance, the Company has been categorized by the Department of Public Enterprises as "NAVRATNA" Public Sector Enterprise in 2008.
The idle asset under sale:
valuejunction received a mandate from NMDC to sell rough diamonds mined from their mines to the right buyers at the best market price.
The Business Challenge:
The Solution & Strategy
Results & Achievements: