The underground mine will replace the open pit as South Africa’s largest diamond mine and is expected to extend the life of Venetia beyond 2040.
The De Beers Group CEO Mellier said Venetia’s production is set to continue into the 2040s to support South Africa’s mining economy for generations to come and will also make diamond moments possible for people around the world.
With production expected to commence in 2021, the Mine will treat approximately 130 million tonnes of ore, containing an estimated 96 million carats while supporting over 8,000 jobs directly, and a further 5,000 through the supply chain.
Mineral Resources Minister Susan Shabangu said, "The launch of this underground mine shows that South Africa remains an investment destination of choice and, through our mining laws, we will continue to ensure that this investment sustainably benefits mining communities and labour-sending areas."
Separately, De Beers Canada and Mountain Province Diamonds have received approval from the Aboriginal Affairs and Northern Development Canada for the development of the Gahcho Kué diamond mine as recommended by the Mackenzie Valley Environmental Impact Review Board.
The approval allows the Mackenzie Valley Land and Water Board to begin applications processing for the land use permit and water license which are need to construct and operate the Gahcho Kué mine located 280km northeast of Yellowknife, Northwest Territories.
Gahcho Kué, which is a joint venture between De Beers (51%) and Mountain Province Diamonds (49%), is excepted to produce an average of 4.5 million carats annually over the eleven year mine life.
