All That Glitters... The Truth Of The Rs 50 Crore 'Diamond' Found In MP's Panna

Last Updated:October 27, 2025, 18:10 IST

Excitement in MP's Panna over a 150-carat diamond ended in disappointment as officials confirmed the stone was not a diamond, dashing hopes of a Rs 50 crore windfall

A 150-carat stone found in Panna, Madhya Pradesh, was initially believed to be a Rs 50 crore diamond. (News18 Hindi)

The excitement over a purported 150-carat diamond in Madhya Pradesh’s Panna, the city famed for its diamond mines, has ended in disappointment. What was initially hailed as a rare gem has now been confirmed as a quartz stone, officials said. The discovery, which briefly stirred hopes of a windfall worth over Rs 50 crore, has instead underscored the need for caution in the region’s lucrative mining sector.

The stone, weighing 137.14 carats, was examined in the presence of mineral officer Ravi Patel, diamond expert Anupam Singh, and several local traders. “Upon detailed inspection, it was established that the stone, though glittering like a diamond, is quartz and holds no significant market value," said Ravi Patel.

The controversy began on September 5 at the Krishna Kalyanpur Patti diamond mine, when mine operator Jai Bahadur Singh and his partners unearthed a sparkling stone during excavation. Believing it to be a rare diamond, excitement ran high. A scuffle broke out when his partner Dayaram Patel tried to claim the stone, prompting Jai Bahadur to lodge a complaint with the diamond officer and the local police. The stone was subsequently deposited at the police station.

Even on holidays, the diamond office witnessed a surge of visitors, many eager to catch a glimpse of the supposed gem. Local speculation had pegged its potential value at over Rs 50 crore. “We thought it would change our fate," Jai Bahadur Singh admitted, “but now everything is gone."

Panna, renowned for its diamond-rich terrain, has occasionally produced high-value stones that transform the fortunes of miners and local farmers. While this incident ended in anticlimax, it serves as a reminder of the importance of expert verification before declaring discoveries as valuable diamonds.

News india All That Glitters... The Truth Of The Rs 50 Crore 'Diamond' Found In MP's Panna

Read More