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Home > Diamond News Center > Diamond News > World

Harry Winston May Buy Up BHP's Ekati

08.08.12, 12:10 / World
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Ekati Diamond Mine located in the Northwest Territories, Canada
Canadian diamond company Harry Winston is in talks to purchase controlling interests in two of the largest diamond mines in the country, Mining.com reported. Harry Winston is now confirmed to be interested in buying the Ekati diamond mine in the Northwest Territories, according to the Financial Times.
 
BHP Billiton, who own an 80% stake in Ekati, Canada's first diamond mine, may be selling their shares to Harry Winston imminently. Bank financing has already been secured to allow Harry Winston to go through on the purchase, according to insiders. Ekati, which has been mined for diamonds since 1998, is thought to be worth between $300 million and $500 million.
 
Harry Winston is also in talks with Rio Tinto to purchase its 60% controlling interest in the Diavik diamond mine. Harry Winston already owns the remaining 40% stake in the mine, which is expected to have a lifespan of between 16 to 22 years.
 
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