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2026-07-14 13:48:11
[De Beers to Suspend Production at South Africa's Largest Diamond Mine] International diamond giant De Beers Group announced on the 13th that it plans to suspend production at its Venetian diamond mine in Limpopo Province, South Africa, for two years to reduce costs. De Beers issued a statement that day saying that its other mines will maintain current production levels, and overall production guidance remains unchanged. De Beers Group CEO Al Cook stated in the statement that the adjustments are aimed at enhancing the company's operational resilience. This production halt is part of De Beers' plan to cut costs and adjust its global business. Since 2024, De Beers has reduced its annual administrative expenses by more than $100 million and sold or closed some non-core assets. The Venetian diamond mine is South Africa's largest diamond mine in terms of output, accounting for approximately 40% of South Africa's annual diamond production. The mine is located near the borders of Botswana and Zimbabwe and has been operating for over 30 years. (Xinhua)
