[AFNS] NEW YORK, USA 7 October - Despite the current economic turmoil spreading around the world, diamond demand is poised to grow due to demand from Russian, Middle Eastern, Indian and Chinese consumers and investors looking for a safe haven, Robert Gannicott, CEO of Harry Winston Diamond Corp., told the Bloomberg news service.

In the new consumer markets, women are especially keen on receiving diamond jewelry for their weddings because divorce laws in those countries offer them little protection, he said.

Gannicott noted that it was difficult to develop new diamond mines due to regulatory and technological hurdles.

His company and Rio Tinto, which are 40/60 partners in the Diavik Mine in the Northwest Territories, Canada, are increasing their spending on exploration of lands near the mine by 20 percent, he said.

He also said his company plans to buy or partner with another diamond mining company some time in the next three years.

A service of the Antwerp Facets News Service (AFNS). Article may be reproduced provided that credit is given to AFNS.