According to the statement made by minister of state for commerce Jairam Ramesh the MMTC is an active to go exploring diamonds and precious metals in Africa. Ramesh said to media by the end of the First India-Africa Summit held on April 08-09, 2008 in Delhi.

Defecto the proposal have been made by TATA group that developed their interest in exploring & mining during the high-powered delegation visited Angola & Namibia under the leadership of Jairam Ramesh for a week days from March 26. 2008! Both, MMTC & TATA plans to establish a JV’ with such aims-n-objectives, where TATA will hold 74% & MMTC to hold the stake of 26%! Though Angolan government offered India to tap gold-n-diamond mining but TATA is looking at these two areas & beyond.

The state owned MMTC always has interest in exploration & mining. Earlier they had been inked ‘a joint exploration & mining rights’ in 1987-not only with Angola but also with Tanzania, Liberia, Sierra Leone & Ahana. TATA, the mammoth group of industry owns Tanishq -a renowned jewellery brand.

Tanishq