Willie Venter

Money Moves

As of September 2026: Warned of job losses in areas with few alternatives

De Beers is pausing production at Venetia, South Africa's largest diamond mine, for two years. The mine accounts for 40% of the country's diamond output and employs about 4,400 people, but every carat it sold last year fetched $66 while extraction cost $110.

Updated Sep 7