Aber Diamond Corp. makes a steller rise in shares

Aber Diamond Corp., has recorded a stellar performance at the Toronto Stock Exchange with its shares rising to the highest level over slightly more than 12 months. It also indicated its intent to increase its stake in the Diavik diamond mine. Aber currently holds 40% stake while the remaining is owned by Rio Tinto plc.

Earlier, some news stories had indicated that Rio Tinto was looking at selling its diamond operations of Diavik and Argyle in Australia, as it benefits its global operations following the $43 billion takeover of Alcan Inc.

According to a report by the Canadian Press, Aber chief executive officer Robert Gannicott said, “We haven't heard anything about it. I think it's just a rumour at this stage, but we actually have a first right of refusal to purchase that interest from Rio, so, yes, of course we'd be interested.”