Rio Tinto to shut its India Bunder diamond project

The world’s second-biggest miner, Rio Tinto on Monday said it will shut the Bunder diamond mine in Madhya Pradesh by year-end amid attempts to cut costs. Bunder remains a "top-class" diamond deposit and Rio Tinto will work to explore another investor, it added. Notably, the mine was claimed as one of only four to enter production in the next decade.