Diavik will be relying on the clout, history and sterling reputation of New York jeweller Tiffany & Co christmas gift sale.
Tiffany is a minority shareholder of Toronto-based Aber Diamond Corp., which through a subsidiary controls 40 per cent of Diavik. The majority 60-per-cent stake is owned by Diavik Diamond Mines Inc., a subsidiary of Rio Tinto PLC of London xmas gift .
Tiffany has agreed to purchase a minimum of $50-million a year in diamonds from Aber when Diavik starts producing, and is currently building a $3-million sorting and cutting factory in Yellowknife.
”We are not going to spend time and money developing an Aber brand, when the best brands are already out there,” says Matt Manson, vice-president of sales cheap Links of london Charms .
Tiffany’s foray into Yellowknife is another reflection of the growing appeal of Canadian diamonds. Ms. Jones, the Arslanian director, can see Tiffany’s new plant going up from her office window.
She says she doesn’t feel threatened. The entrance of a major player such as Tiffany only adds to the region’s credibility, she says Links Charms . Arslanian is bulking up, having recently signed an agreement to join Rosy Blue NV, an Antwerp-based diamond trading and manufacturing concern with operations in 14 countries.
Sirius, too, is teaming up with a larger player and has signed a letter of intent to sell a 49-per-cent interest to New York-based E. Schreiber Inc.