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Yesterday

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Edahn Golan: Lab-grown diamond prices to continue declining

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ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

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18 march 2024

Eduard Gorodetsky: Currently we see high demand for synthetic diamonds for use in technology segment rather than in jewelry

Director General of the Advanced Synthetic Research Center Eduard Gorodetsky told Rough&Polished about the current situation at the company, new exclusive technologies in the synthesis and production of lab-grown crystals, as well as the Research Center’s...

11 march 2024

De Beers begins Venetia underground production

26 july 2023

De Beers has commenced underground production at its Venetia Mine in Limpopo, South Africa, following an investment of $2.3 billion since 2012.

It said the construction and production ramp-up of the underground mine will continue for the next few years.

The underground mine, which consists of the K01 and K02 orebodies, will allow Venetia to mine to a maximum depth of 1,000 metres.

K01, a substantial orebody measuring 550 by 120 metres, will be responsible for the majority of production, yielding an average of 3.5 million carats per year from around 4.5 million tonnes of material. The 200-meter-by-300-meter K02 orebody will provide the remainder, generating around 1 million carats per year from 1.5 million to 2.5 million tonnes of material.

"The investment in moving the world-class Venetia Mine underground increases De Beers Group's long-term global production and demonstrates our dedication to South Africa," said De Beers Managed Operations managing director Moses Madondo.

"Our great team of employees and contracting partners have collaborated magnificently to reach this significant milestone of first underground production. We anticipate this high-performing team to continue the good work as we ramp up production over the next few years, bringing significant advantages to our workforce, our host communities, and our commercial partners, as well as to South Africa as a whole."

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished