JKML extracted precious 63.60 grams sapphire crystal

           Jammu,April 27 (Scoop News) – J&K Minerals Limited organized auction of Rough Sapphire Corundum and crystals extracted by the organization from world famous Paddar Sapphire Mines (Kishtwar). The auction was inaugurated by Minister for Industries & Commerce (Chairman, JKML) S. S. Slathia on April 26, 2011 at Udhyog Bhawan Jammu and the proceeding concluded here today.

            Number of buyers from abroad including Sri Lanka, Bangkok, USA and also within the country participated in the auction. The corporation sold sapphire corundum and crystals worth of Rs.50.00 lacs.  The attraction of auction was the display of 63.60 grams sapphire crystal extracted by the corporation during 2010 working season having value estimated worth crores. Though the bidder offered Rs.70.00 Lacs for this precious stone but the auction committee preferred to withdraw the lot from the auction and decided to put the same in the Bigger Global market so as to fetch better price.

            Other crystals of 13.13 grams and 7.00 grams were also the attraction of the bidders. The auction committee was presided over by Mr. Umang Narula, Commissioner / Secretary to Govt., Industries & Commerce Deptt., Mr. V. C. Sharma, Managing Director, JKML, Mr. I. A. Ashai, Director Geology & Mining Deptt., and other members of committee were present. Expert from NMDC Mumbai, IIT Mumbai and others also participated.