Jewelry Trade News & Market Updates

De Beers Idles Venetia for Two Years, Putting 1,134 Jobs at Risk
Industry News

De Beers Idles Venetia for Two Years, Putting 1,134 Jobs at Risk

De Beers will pause production at its Venetia mine in South Africa for two years, putting 1,134 permanent jobs at risk as the producer redirects cash to a $2.3 billion underground expansion. The move follows a roster cut to about 45 sightholders and a July sight of $315 million with reset prices, all under Anglo's stalled sale process.

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