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Rio Tinto to invest $500 million in diamond project in India

Published 12/01/2015, 07:55
© Reuters. A Rio Tinto logo is displayed on the front of a wall panel during a news conference in Sydney
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NEW DELHI (Reuters) - Global mining company Rio Tinto (L:RIO) (AX:RIO) plans to invest $500 million (330 million pounds) in a diamond project in India's Madhya Pradesh state, its Chief Executive Officer Sam Walsh said on Monday.

© Reuters. A Rio Tinto logo is displayed on the front of a wall panel during a news conference in Sydney

The company is waiting for environment approvals from the Indian authorities before starting the project, Walsh told reporters.

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