Non-metallic Mineral mining sector spawn a wide range of activities. The sector includes companies dealing in diamonds and other such minerals. Alexco Resources Corp. (NYSE MKT: AXU) is adding new mines to improve its production levels. The company is also cutting its costs to increase profitability. Conversely, Harry Winston Diamond Corp. (NYSE: HWD) is looking to streamline its operations and sold its luxury watch business to The Swatch Group. The move will let it focus on the diamond mining business.

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Harry Winston Diamond Corp. engages in diamond mining. The company recently announced a healthy jump in its rough diamond sales. Its stock is up 6 percent so far this year so far and is expected to perform better as demand for rough diamonds is likely to continue into the near future.

The company is also looking to restructure its business as the company sold its luxury watch unit to The Swatch Group. The deal was valued at $750 million. The move will help Harry Winston Diamond in concentrating its efforts and resources to its mining business and benefit from the rush in diamond demand. The company has mining joint venture with Rio Tinto for its Diavik mine, which is expected to produce six million carats of diamonds this year.

Harry Winston Diamond also won a minor relief when Ekati suit against it was withdrawn. After the suit dismissal, the company is in the position to go ahead and negotiate the deal for acquiring BHP Billiton's interest in the mine. It is likely to use the proceeds from the sales of its luxury watch unit to complete this deal. With this acquisition, the company will boost its mining portfolio. Harry Winston Diamond is also pursuing growth outside of its domestic market.

On the other hand, Alexco Resources is on a growth trajectory as the company announced 16 percent increase in its silver production for the fourth quarter of the year. The improvement is likely to provide a positive fillip to the stock which is currently trading near its 52-week lows. The company is mainly invested in silver mining and is looking to increase its efficiency to boost the margins and profits. The company is also looking to commission new mines including Lucky Queen and Onek mines to boost the production. With positive silver price trend, the company is likely to perform well in the future. It also deals in other minerals including quartz and has diversified portfolio.

Alexco Resources also recently announced its third quarter results. The company's net income for the quarter stood at $5.3 million. Additionally, it posted 33 percent decline in cash costs per ounce and 12 percent increase in silver production. With increase in margins, the company is expected to perform better. The company is looking to achieve 5 million ounces of annual production by the year 2015 and Alexco Resources will be adding new mines for accomplishing this purpose. The stock currently has good upside potential and may provide healthy returns to long-term investors.

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