The investment will allow for a fourth pipe to be developed at the site, with production expected to start by 2018.
Harry Winston Diamond Corporation Mining News
The company has extended the productive life timeframe for both Canadian operations.
Dominion Diamond Corp, which already owns 40% of the mine, said it is interested, but the price has to be right.
The Swatch Group is paying $750 million plus the assumption of up to $250 million of pro forma net debt.
Production at the Diavik mine in Canada’s Northwest Territories was up 19% in the fourth quarter of 2012, compared to the same period in 2011.
Canadian Harry Winston Diamond Corp. (TSX:HW, NYSE:HWD) has confirmed it has received "various indications of interest" about the potential purchase of its luxury retail business.
Harry Winston Diamond Corp. (TSX:HW, NYSE:HWD) reduced Tuesday its 2012 production target for the Diavik mine to 7.4 million carats as the operation shifts its efforts to concentrate on processing higher-valued diamonds.
Massive layoffs are expected before the end of the month at Diavik, in Canada's Northwest Territories, as the diamond mine is set to close its open-pit section.
A revised life-of-mine plan at Harry Winston Diamond Corp’s Northern Diavik diamond mine has taken some of the shine off the company’s stock.
A deal between Rio Tinto and Toronto-based jeweller Harry Winston Diamond, which is looking to become the sole owner of the Diavik Mine, might be around the corner.
Luxury jeweler and watchmaker Harry Winston Diamond Corp said today that production at its Diavik mine in Canada's Northwest Territories was up about 19% in the first quarter on improved grades.
Luxury jewellery retailer and miner Harry Winston Diamond Corp. is one of several potential buyers of BHP Billiton's Ekati diamond mine in the Canadian north, according to media reports Wednesday.
Poor diamond sales have bitten into diamond retailer and miner Harry Winston Diamond Corp.
Diavik Diamond Mines (DDMI) wants to harness the wind to help extract diamonds from beneath the earth. The company — which operates the huge Diavik operation in the Canadian Arctic through a joint venture between DDMI, Rio Tinto (LON:RIO) and Harry Winston Diamond Limited Partnership (TSE:HW)— said earlier this week it has begun constructing a wind farm at the mine to supplement diesel power.
Harry Winston Diamond shares fell 11 cents on Friday despite a successful Q3 production report. The company (TSX:HW, NYSE:HWD) said it processed 3% more ore at its 40%-owned Diavik Diamond Mine in the Canadian north, producing 1.9 million carats from 0.6 million tonnes of ore. That translates to an 8% increase in recovered carats from the same period in 2010 due to higher processed ore grades, says Harry Winston.
Winnipeg Free Press reports: Harry Winston Diamond Corp. (TSX:HW) expects sales of its luxury jewelry and timepieces to reach $1 billion per year in the next decade as the number of wealthy individuals continues to climb. "There is an enormous concentration of wealth around the world," Frederic De Narp, head of Harry Winston's retail segment, said at the company's annual general meeting Thursday.
Harry Winston Diamond Corporation (TSX: HW) (NYSE:HWD) (the "Company") today announced its first quarter Fiscal 2012 results for the quarter ending April 30, 2011. Robert Gannicott, Chairman and Chief Executive Officer stated, "This quarter's results reflect improving rough diamond prices combined with increasing sales and profit for the luxury brand segment.
Harry Winston plans to secure additional polished diamond supply in support of its growth objectives
Harry Winston Diamond Corporation (TSX:HW) (NYSE:HWD) (the "Company") is pleased to announce that it has entered into a business relationship with Diamond Asset Advisors AG ("DAA") who are in the process of establishing a polished diamond investment fund. The fund will be structured as a limited partnership, of up to US$250 million, offering institutional investors direct exposure to the wholesale market price of polished diamonds. Under the terms of the Company's arrangements with the fund, the Company's expert diamond team will source diamonds that have the same high quality characteristics that Harry Winston uses in its jewelry and timepieces, with a portion coming from the Company's existing inventory.
Kinross Gold Corporation (TSX:K)(NYSE:KGC) announced today that it has sold its approximate 8.5% equity interest in Harry Winston Diamond Corporation ("Harry Winston"), consisting of approximately 7.1 million Harry Winston common shares, on an underwritten block trade basis, for gross proceeds of CDN$100 million. On August 25, 2010, Kinross announced that it had completed the sale of its former 22.5% interest in the partnership holding Harry Winston's 40% interest in the Diavik Diamond Mines joint venture to Harry Winston for US$50 million cash, 7.1 million Harry Winston common shares, and a note payable in the amount of US$70 million maturing 12 months from the date of the sale.
Harry Winston Diamond Corp. says a new operating plan for the Diavik diamond mine in Canada's Far North would see a winter shutdown cancelled and 2010 delivery ramped up to 7.5 million carats of diamonds or more.