Aber Diamonds Corp. will increase sales of rough diamonds to Israeli diamond merchants and increase purchases of polished diamonds, company executives said during a visit to the Israel Diamond Exchange in Ramat Gan, Globes, an Israeli business publication, reports.
Aber Diamonds owns 40% of Diavik Diamond Mines Inc. in Canada’s Northwest Territories in partnership with Rio Tinto PLC (RTP).
The Diavik mines began producing last year, and will produce eight million carats this year. Aber Diamonds also owns 51% of Harry Winston, one of the world’s leading jewelers.
Aber Diamonds’ Chief Executive Robert A. Gannicott and other executives met with the heads of Israel’s diamond industry this week to discuss sales of rough diamonds to Israeli merchants, and to seek firms to sell polished diamonds to Harry Winston, the publication reports.
Israel’s diamond industry wants to increase rough diamond purchases from Aber Diamonds as part of its strategy to diversify sources, to replace the reduction in allocations from De Beers, the publication reports. The Israel Diamond Manufacturers Association wants to Israel to become a global center for trade in both rough and polished diamonds.