Almas Resources: Emerging Diamond Producer

De Beers delivers first production from Venetia underground

July 27, 2023

By: Marleny Arnoldi

"Diversified miner Anglo American’s diamond mining subsidiary, De Beers Group, has delivered first production from the underground operations at the Venetia mine, in Limpopo, which it built at a cost of $2.3-billion.

The overall construction of the underground mine is now 70% complete, with construction and production ramp-up to continue over the next few years.

Venetia has long been a leading diamond mine in South Africa; however, it ceased openpit mining operations in December last year, following 30 years of production.

De Beers embarked on the underground expansion in 2012, with the $2.2-billion project being the biggest single investment in the country’s diamond mining industry in decades.

The highly mechanised underground operation will produce about 4-million carats a year.

De Beers Group managed operations MD Moses Madondo says the investment not only enhances De Beers’ global production for the long term, but also demonstrates the company’s commitment to South Africa, including through bringing profound benefits to the De Beers workforce, host communities and commercial partners.

For example, De Beers built a $10.5-million training centre in June 2021 as part of its operational-readiness framework to enhance the transformation of people processes and systems for the successful transition from openpit to underground mining.

The underground operations currently employ 4 300 people, with the majority of employees living in the surrounding Musina and Blouberg communities."

Source: Mining Weekly

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