Diamond giant De Beers halts work at flagship South African mine as demand plummets
De Beers is majority-owned by Anglo American, which is reportedly trying to sell it and shift focus to the growing copper market, external fuelled by the recent AI boom.
At the Venetia mine, De Beers has pledged to use those two years of downtime to make infrastructure more "efficient" with increased "capacity", external, ready to reopen production once market conditions improve.
Lab-grown diamonds have gained in popularity in recent years, as consumers voice ethical concerns about miners' pay and working conditions as well as environmental damage.
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.
