Dominion Not Necessarily Interested in Rio’s Diamonds

Reuters reported that while Dominion Diamond Corp. (TSX:DDC,NYSE:DDC) is considered a potential buyer of Rio Tinto plc’s (ASX:RIO,LSE:RIO,NYSE:RIO) diamond business, Dominion’s CEO, Robert Gannicott, emphasized yesterday in a conference call that the company is not interested in such a deal unless it will be profitable.

Gannicott commented:

There’s no point in buying things just to have more diamonds. If it’s not going to deliver profitability, then I’m quite happy to stay where we are.

We do not wish to purchase the entire unit, we’re very focused on the Northwest Territories – the place we know, the place we belong and the place we understand.

Click here to read the full Reuters report.