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De Beers Says Venetia Diamond Mine Output Will Normalize in 2nd Half
Apr. 17, 2013 04:35PM PST
Gem Investing
Mining Weekly reported that Anglo American’s De Beers said production at the Venetia Diamond mine in South Africa will return to normal in the second half of this year. The $2.27B mine’s production has been affected by heavy rainfall.
Mining Weekly reported that Anglo American’s De Beers said production at the Venetia Diamond mine in South Africa will return to normal in the second half of this year. The $2.27B mine’s production has been affected by heavy rainfall.
As quoted in the market news:
South Africa had the worst rain in the last 200 years and our big mine Venetia had 23 metres of water, so therefore our production was slightly lower,” Varda Shine, chief executive officer of Diamond Trading Company (DTC), the sales and distribution arm of De Beers, told Reuters.