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Sapphires against the backdrop of the Himalayas in the Indian state of Jammu and Kashmir.



  Prized Padder sapphires go on the block in Jammu and Kashmir


February 15, 2013


Hoping to cash in demand for pure Kashmir quality sapphires, the government of the Indian State of Jammu and Kashmir auctioned off a large stock of sapphire corundum from the Padder mines, which are located in the Himalayas about 330 kilometers from the winter capital of Jammu.

Among the lot of sapphires is a single stone that the government hopes will fetch more than $900,000. "We are waiting for the customers for that stone. We are sending the intimation to customers and hoping for a good response this time," said VC Sharma, the general manager of Jammu and Kashmir Minerals Limited, as quoted by the media.

Sapphires were originally discovered in the Padder area in the 1880s, at an altitude of more than 4,000 meters. But they have been mined only sporadically, in part because of the difficult terrain, but also because of absence of organized mining operations.

While experts believe that the Padder sapphire mines are economical, few companies have been prepared to assume the risk of working in an area that is inhospitable topographically, which also has been beset by bouts of political unrest and violence. There have also been reports about plundering at the sapphire mines.

The possibility of global tenders have been raised periodically over the past 10 years, but thus far the government auction remains the best show in town.

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