Tiffany & Co. Invests in South African Diamond Firm
By: Jennifer Diamond
Tiffany & Co. has taken a page from Harry Winston's book and bought it's own underground jewelry box.
Last week, Harry Winston purchased the Ekati Diamond Mine and Diamonds Marketing Operations from BHP Billiton. Now the South African diamond development and exploration company, DiamondCorp plc, received a $6 million term loan from Laurelton Diamonds Inc., a wholly owned subsidiary of Tiffany & Co. This loan gives Laurelton Diamonds the right to purchase production from the DiamondCorp’s Lace Mine in South Africa.
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