Mineweb reported Harry Winston Diamond (TSX:HW,NYSE:HWD) is in advanced talks to buy Rio Tinto’s (ASX:RIO,NYSE:RIO,LSE:RIO) 60 percent stake in the Diavik mine.

As quoted in the market news:

The Canadian diamond miner already owns the remaining 40 percent interest in the mine located in Canada’s Northwest Territories. Rio has been exploring options for its diamond interests since March.

Click here to read the full Mineweb report.