Multinational companies have found early signs of SUBSTANTIAL diamond reserves in the Maoist heartland of Bastar region in Chhattisgarh.
But the companies, such as RIO TINTO AND BHP BILLITON, have decided to shift their gaze elsewhere after consulting the state government on how long it could take for the security operations against the Maoists to wind down.
“We had applied for a reconnaissance permit for the Bastar region, but the state government has asked us to explore other zones instead,” Nik Senapati, the India managing director of Rio Tinto, told The Indian Express.The company’s application was based on aerial surveys which indicated there are diamond bearing deposits in the region. The Bastar region is geologically one of India’s three oldest zones, the other two being the Deccan Plateau and the Bundelkhand region.
The Raman Singh government has instead approved the application from the British-Australian company to explore for the mineral in the korba hills in the north of the state.Bastar is to the south and comprises the five districts of Bijapur, Dantewada, Bastar, Kanker and Narayanpur. Source The Indian Express
As can be seen from the map the bulk of the diamond deposits in India are t be found in the heavily tribal Chota Nagpur area which is where the Naxalites are the strongest
Cohenicdence or just Coincidence?
Rio Tinto is a multinational mining and resources group founded originally in 1873. The group is one of the world’s largest mining companies, with a pre-tax profit of approximately US$10.2 billion in 2006 on consolidated turnover of $25.4 billion. It is the largest coal mining company in the world.
The origins of Rio Tinto (Spanish for ‘dark red river’) are in southern Spain, at the site of an ancient mine which supplied the Phoenicians, Ancient Greeks, Carthaginians and the Roman Empire. In 1873 N M Rothschild & Sons of London and de Rothschild Frères of Paris joined with other investors to acquire the Spanish government’s money-losing Rio Tinto mines. The new owners restructured the company and turned it into a profitable business. By 1905, the Rothschild interest in Rio Tinto amounted to more than 30 percent. Alfred Milner, 1st Viscount Milner served as chairmen for a period before World War One.Source
According to the book The Rio Tinto Company: an economic history of a leading international mining concern, by Charles E. Harvey (1981), page 188 the Rothschilds have controlled Rio Tinto since 1880
The Rothschild family took over control of the company way back in 1880, but the interesting part of this story fast forwards us to today. Jacob Rothschild, 4th Baron Rothschild, and other members of the world’s most famous banking family, still hold significant stakes in one of the old family businesses. A brief bit of research reveals Jacob Rothschild has at least two subsidiaries of his own wealth portfolio vested in Rio Tinto (among the many, many others).
Rothschild’s RIT Capital Partners held £12.5 million (PDF) of Rio Tinto in September. But more interestingly, Rothschild’s St. James Place Capital owned 3 percent of Rio Tinto at the beginning of this year. This may not seem all that interesting on face value, but consider the myriad of Rothschild holdings and subsidiaries. While not all that dramatic by themselves, other Rothschild investments, which by the way are as difficult to find out as hen’s teeth, reveal some interesting associations.b Source http://seeker401.wordpress.com/2010/03/30/rothschilds-deep-connections-to-rio-tinto/