AP has Rs 95k cr of rare mineral
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24/05/2010
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Deccan Chronicle (Hyderabad)
Hyderabad, May 24: The state has finally quantified the deposits of the valuable fullerene mineral found in the Mangampet Barytes mines in Kadapa district more than a year ago. The value of the finding has been put at Rs 95,000 crore.
The mineral, which is said to be 250 times tougher and 10 times lighter than steel, is used in the aerospace industry, nano technology, and solar power. Fullerene costs more than gold at $23,000-45,000 for 10 grams. The state decided to call for expression of interest for research and development and extraction of fullerene.