De Beers to pause work at S.Africa's largest diamond mine
De Beers announced Monday it will pause production at South Africa's largest diamond mine for two years to reduce costs while trading conditions remained tough."Consistent with recent actions to improve business resilience, De Beers intends to pause production at the Venetia mine in South Africa for two years to reduce costs while also rephasing capital expenditure on its underground project," it said in a statement.
It said "rough diamond trading conditions are expected to remain challenging in the near-term" with production decreasing and several producers closing mines.
This is a summary of the original articles listed below. Always read the source articles for the full context. GhanaSummary does not create or modify the news — we summarise and link to original publishers.
