In November 2017, De Beers announced that it is seeking “expressions of interest from potential buyers” for its Voorspoed mine in South Africa. Now, the De Beers Consolidated Mines Proprietary Limited (DBCM ) announced that it will close the mine after the “disposal process was unsuccessful in identifying a suitable operator”.
Phillip Barton, DBCM CEO, explained the employees of the mine have been provided with “appropriate support structures”. The company added that it has agreed to South Africa’s Department of Mineral Resources (DMR) request for process to identify a Proposed Operator within a 30-day period, starting August 1, 2018.
After disposing of Voorspoed, De Beers’ portfolio in South Africa will include only the Venetia mine in Limpopo Province. De Beers added that it is “currently making its largest ever investment in South Africa with a $2 billion project to take the mine underground and extend its operating life into the 2040’s”.
