De Beers halts Venetia output amid diamond slump

De Beers plans to suspend production at its Venetia diamond mine in South Africa for two years as weak rough-stone prices and persistent trading pressures force the group to deepen cost cuts across its global operations. The proposed shutdown at the Limpopo mine will be accompanied by a rescheduling of capital expenditure on the underground project, which was developed at a cost of about $2.3 billion. The […] The article De Beers halts Venetia output amid diamond slump appeared first on Arabian Post .