Editor’s Note
This article details Harry Winston’s strategic move to acquire BHP Billiton’s stake in the Ekati diamond mine, a significant investment aimed at securing its gemstone supply chain.
Harry Winston, the Australian company, is reinforcing its activity in the mining sector to secure its supply of gemstones. The company, which has been approached by various potential buyers in recent months, has acquired BHP Billiton’s stake in the Ekati diamond mine for $500 million (€394 million). BHP Billiton is the world’s largest mining group.
The transaction involves the purchase and sale of Canada’s oldest diamond deposit, which is the principal asset of BHP’s diamond business.
Harry Winston, one of the jewelry manufacturers that has ventured into mining to guarantee its access to gemstones, has been viewed for months as a potential buyer. The company is already a partner of Rio Tinto in the nearby Diavik mine, where it holds a 40% stake.
The Toronto-based jewelry group closed its last fiscal year with a turnover of $702 million (€838 million).