Harry Winston Seeks Diamond Assets

Bloomberg reported Harry Winston Diamond Corp. (TSX:HW,NYSE:HWD) is seeking more mining assets, including Rio Tinto Group’s (TSX:RIO,ASX:RIO,NYSE:RIO) share of a joint venture.

As quoted in the market news:

Rio and BHP Billiton Ltd. (BHP) are weighing a sale of their respective diamond interests as commodity prices decline and the companies turn their attention to investing in other materials such as iron ore and copper. That may offer an opportunity for Toronto-based Harry Winston to boost production ahead of what Chairman and Chief Executive Officer Bob Gannicott sees as a looming shortage.

Click here to read the full Bloomberg report.