De Beers to pause production at SA’s Venetia mine
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.
CHAMWE KAIRA
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.
The company said this will involve critical infrastructure investment to enhance the capacity and efficiency of the mine, with the intention to support future production growth as business and industry conditions improve.
“De Beers is engaging with stakeholders in accordance with relevant requirements and the company’s values as it moves through this process, and will both support impacted employees and continue to invest in its community and Social and Labour Plan commitments,” the company said.
