Harry Winston To Purchase BHP Billiton Shares, Ekati Diamond Mine

Harry Winston Diamond Corporation (TSX:HW,NYSE:HWD) announced a share purchase agreement with BHP Billiton Canada Inc., including controlling interest in the Ekati diamond mine.

As quoted in the press release:

The Ekati Diamond Mine consists of the Core Zone, which includes the current operating mine and other permitted kimberlite pipes, as well as the Buffer Zone, an adjacent area hosting kimberlite pipes having both development and exploration potential. The agreed purchase price, payable in cash, is US$400 million for the Core Zone interest and US$100 million for the Buffer Zone interest, subject to adjustments in accordance with the terms of the share purchase agreements.

Click here to read the Harry Winston Diamond Corporation (TSX:HW) press release.