Rio Tinto's Diamonds Sparkle with India's Bunder Mine

JOHANNESBURG--August 29, 2012--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Rio Tinto plc (NYSE:RIO) (London, England) made a decision against exiting the diamond industry, saying that it will invest $500 million in developing the Indian Bunder diamond mine in Madhya Pradesh. Brian Cox, the managing director of Rio Tinto Diamonds, said that commercial production is likely to start in 2016. Other companies featured: BHP Billiton (NYSE:BHP)