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Diamonds & Engagement
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Fine Jewelry
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DeBeers Begins Work On New South African MineThu, October 26th 2006, 11:22 EST | |
|  De Beers is ready to begin construction on the new Voorspoed diamond mine, located near Kroonstad, South Africa. The mine will be an open pit mine, expected to produce eight to ten million carats over its estimated lifetime of 12-16 years, says David Noko, managing director of De Beers South Africa. The cost to build the mine and recovery plant is $172 million. The construction stage of the project will bring 700 new jobs and more will be available as the mine reaches full production.
The Voorspoed was mined by the Voorspoed Diamond Mining Company from 1906-1912 when difficulties in mining the kimberlite caused the mine to shut down. De Beers aquired the mine in 1912, but has not operated it since then. The mine was known for producing exotic color diamonds as well as occasional large diamonds.
This mine is the first for De Beers Consolidated Mines as a Black Empowerment Company.
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