Tiffany Considering Indian Polishing Plant

Luxury retailer Tiffany & Co, which until recently held a big stake in Canadian miner Aber and has a marketing agreement with diamond explorer Tahera, is apparently considering establishing a diamond polishing plant in India.

According to reports in the Indian press, Tiffany representatives discussed the option of manufacturing diamonds in the country with the Gems and Jewellery Export Promotion Council (GJEPC).

Tiffany has long expressed an interest in upstream activities. The company was invested in Aber and has a rough diamond purchasing agreement for Diavik goods.

In October it signed a deal with Tahera to buy or market all of the diamond production from Tahera’s Jericho diamond project during the mine’s entire life and provide a $28 million loan to assist in the construction of the project.