De Beers Uncovers First Diamonds In $2.3bn Venetia Underground Mine Expansion
The leading global diamond producer De Beers announced on 25 July the extraction of the first diamonds from its new $2.3 billion underground operations at South Africa’s Venetia mine. The company halted its 30-year open pit mining operations at Venetia last December to shift to the underground section developed over the past decade. Moses Madondo, Managing Director of De Beers Group Managed Operations, said the underground operations could enhance De Beers’ long-term global production. With 70% of the underground section completed, De Beers expects it to yield around 4 million carats of diamonds annually. The company also anticipates a production between 30 and 33 million carats for this year.
Source: https://www.mining.com/de-beers-2-3bn-venetia-mine-expansion-yields-first-diamonds/
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