The Orissa Mining Corporation is one of the pioneer mining organisation in the country. Its major activities are in the field of iron ore, manganese and chrome ore. It has also diversified into chrome ore beneficiation and promoted joint venture projects in granites and gemstones.

The Corporation has been involved in exploration, mining and marketing of gemstones since 1981. The exploration efforts of the Corporation have enabled it to identify several gem occurrences in the State and over 8 lakh grammes of various coloured gemstones have been produced in the gem bearing areas.

The precious and semi precious stones of Orissa have come to occupy a prominent place on the gemstone map of the world in the last two decades.

Orissa's coloured gemstones such as ruby, sapphire, aquamarine, heliodor, garnet, chrysoberyl cat's-eye, sillimanite cat's-eye, topaz, zircon, iolite, tourmaline, etc. are known for their superior quality by virtue of their colour, transparency, size, internal reflection and flawlessness.

As per the new gem policy of the State Govt. the prospected gemstone areas in the State will be given on Mining Lease to OMC or to private parties. The parties having technical expertise and financial standing including a commitment to invest at lease Rs.100 lakhs within a specified period in the shape of plant and machinery will be given preference. However, OMC is still continuing as agent of the State Government for un-prospected gem bearing areas.

The said policy also encourages to issue trading licence to Private Entrepreneurs with a security deposit of Rs.1 lakh and annual licence fee of Rs.1 lakh. The licencee will act as sub-agent of OMC.

OMC is having some stock of rough aquamarine, iolite, topaz, chrysoberyl cat's eye, silliminate cat's eye, ruby and garnet for sale under public auction.

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