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De Beers Commits to Invest $2.3B to Expand SA Diamond Mine
Bloomberg reported that De Beers SA, which is 85% owned by Anglo American Plc, will invest $2.3 billion to construct an underground diamond mine in South Africa, below its Venetia-open pit operation.
As quoted in the market news:
Construction of the mine will create about 1,000 jobs, De Beers said. It forecasts underground output to begin in 2021, yielding about 96 million carats during the mine’s life.
