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| Sapphire- Pride of State to be auctioned | | | Early Times Reporter
Jammu | Mar 1
The pride of Jammu and Kashmir, peacock neck blue colour rare Sapphire, will be put on auction in the coming days.
The state government has decided to auction its limited stock of world famous Sapphire corundum on March 11 at a special auction ceremony here in Jammu and efforts are afoot to draw large crowds to make it a successful event. The auction is given wide publicity by the Jammu and Kashmir Minerals Ltd with an aim to fetch competitive prices for the rare sapphire.
It may be mentioned that regular extraction of Sapphire in the Paddar mines is not taking place due to militancy and lack of expertise. Official sources said the commercial extraction of Sapphire has not taken place in Padder area since 1978. However, J&K Minerals managed to extract some sapphire stock between1998-2005, official sources said.
"The Sapphire stock extracted between1998-2004 will be auctioned first as it has been processed", a senior official of the J&K Minerals Ltd said here today. Around four decades ago, over 11, 69, 247 grams of rare Sapphire was extracted during a period of eight years which fetched revenue of Rs.8, 51, 462 to the State Government.
The state Chief Minister Ghulam Nabi Azad has also announced that the government will invite global tenders for the extraction of Sapphire in Paddar mines despite receiving a poor response from the companies to the previous announcement of floating global tenders by then Chief Minister Mufti Mohd Sayeed. |
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