• HOME
  • ABOUT US
  • NEWS
    • NEWS
    • ARTICLES / EVENTS
  • PUBLICATIONS
    • ENGLISH
      • LATEST ISSUE
      • ADVERTISE WITH US
      • SUBSCRIBE NOW
    • BOOKS
      • DEMYSTIFYING RETAIL
  • BUSINESS DELEGATIONS
  • DESIGN GALLERY
  • UPCOMING EXHIBITIONS
    • DOMESTIC
    • OVERSEAS
  • DIRECTORY
    • MANUFACTURER LIST
    • RETAILERS LIST
  • CONTACT US
 

Tiffany Threatens to Seize Diamcor Mining’s Assets

16-06-2025   04:05 PM

Tiffany & Co. has filed a notice stating it intends to enforce an agreement with Diamcor Mining to take control of its assets following the latter’s default on repayment of a loan.

The LVMH-owned jeweler sent the miner, which owns the Krone-Endora at Venetia project in South Africa, a section 244 notice under the Bankruptcy and Insolvency Act on Friday. That notice states that in the event of a default on the loan Tiffany provided Diamcor, the retailer has the right to enforce its security against all of the miner’s personal property and the shares the company holds in DMI Diamonds.

In December, Tiffany forgave approximately half the loan as the miner was unable to repay due to the weak market and a slowdown in demand for its rough diamonds. That left CAD 3.5 million ($2.4 million) of the CAD 6.8 million ($4.7 million) original sum still to be repaid. Diamcor was required to return the funds in two stages: the first to be transferred 90 days after signing the agreement, with the remainder due one year later.

Tiffany and Diamcor previously had a long-term alliance whereby the jeweler had the rights to purchase up to 100% of all future production from the miner at market prices. In return, Tiffany provided the company with financing to expand its deposit. Additionally, former Tiffany executive D. Wayne Howard joined Diamcor’s board of directors last year.

The 244 notice states Tiffany must give Diamcor 10 days’ notice of its intention to take the miner’s goods. In the meantime, the parties are currently exploring alternatives to the enforcement, Diamcor added.

Image: Rough diamonds. (Diamcor Mining)

Courtesy: Rapaport

Share : 

Natural Diamond Council appoints Elizabeth Cowper as Chief Operating Officer

21-09-2026   1:20 PM

The Natural Diamond Council (NDC) has appointed Elizabeth Cowper as its new Chief Operating Officer. Cowper brings more than two decades of experience in people leadership, organisational culture and business...

Read More

Kalyan Jewellers invests ₹350 crore in subsidiary Candere via rights issue

21-09-2026   1:15 PM

Jewellery retailer Kalyan Jewellers India Ltd on Saturday (September 19) said it has invested ₹350 crore in its wholly owned subsidiary Candere Lifestyle Jewellery Pvt Ltd through subscription to 17.5 lakh equity...

Read More

PNG Jewellers targets 103 stores by FY27, plans expansion across India

21-09-2026   1:10 PM

Pune-based PNG Jewellers plans to expand its presence across India and is targeting 103 stores by the end of the current financial year, as the company looks to build on its presence across seven states. Saurabh...

Read More

BIS Seizes 1,095 Gold-Coloured Jewellery Articles in Jammu

21-09-2026   1:05 PM

The Bureau of Indian Standards (BIS), Jammu and Kashmir Branch Office, has seized 1,095 gold-coloured jewellery articles during a search and seizure operation at a jewellery outlet in Jammu over the suspected...

Read More

Tamannaah Fine Jewellery Opens a New Chapter in Luxury with Taj Khazana expanding across 10 cities

21-09-2026   1:00 PM

Tamannaah Fine Jewellery, founded by actor and entrepreneur Tamannaah Bhatia, is embarking on an unconventional retail journey with Khazana, Taj's curated luxury retail destination, marking the brand's retail debut...

Read More

Design Gallery

Videos

View More Videos
  
AOJ exclusive ..
  
AOJ exclusive ..
  
Bhima Jewellery launched ..
  
AOJ Exclusive Interview ..

UPCOMING DOMESTIC EVENTS

View More

UPCOMING OVERSEAS EVENTS

View More
'); printWindow.document.close(); setTimeout(function () { printWindow.print(); }, 500); return false; }

FOLLOW US ON

August 2026

English Edition

Subscribe Now Print Edition
Subscribe Now Digital Edition

© 2026 AOJ Media Pvt Ltd - All Rights Reserved. | Developed by Creed Global Tech.    T & C   Privacy Policy 

Top