Sapphire auction fetches Rs31.64 lakh

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JAMMU: JK Minerals had vast potential to provide employment opportunities in the state, Minister for Industries and Commerce Chander Parkash Ganga stated here on Friday. He was inspecting the auction of Rough Sapphire Corundum (RSC) conducted by Jammu and Kashmir Minerals Limited, a J&K Government undertaking at Jawahar Lal Nehru Udhyog Bhawan, Rail Head Complex. He said efforts were underway to extract sapphire on scientific lines which has great potential to generate resources for economic development of the region.. He also emphasised for reaching out to the national and international market so that optimum price of the sapphire was obtained, an official handout read. Nearly, 79 different lots of corundum sapphire were displayed for open auction by the bidders who came from different parts of India. In all, the auction of 10 lots went under hammer which fetched Rs 31.64 lakh revenue for the corporation, the handout added.