Deposits of a rare hard mineral named Fullerene have been found in the barytes mines at Mangampet in Obulavanipalli mandal of Kadapa district in Andhra Pradesh.
Fullerene is a form of carbon with large spheroid molecules, consisting of hollow cage of 60 or more atoms. The mineral, which is said to be 250 times tougher and 10 times lighter than steel, is used in aerospace, nano technology, solar power and it is available no where in the world except in Russia.
Fullerene is costlier than gold and commands a price of US $ 23,000-45,000 for 10 grams.
AP Mineral Development Corporation (APMDC) had contacted Geological Survey of India (GSI), National Geophysical Research Institute (NGRI) and many universities to undertake a study of Fullerene deposits in Mangampet.