De Beers’ Voorspoed diamond mine on market

The decision of diamond giant De Beers to place its Voorspoed diamond mine on the market opens the way for a lower-cost operator to buy the mine and potentially extend its life, the company said on Monday, when it invited expressions of interest from prospective buyers and appointed Standard Bank as financial adviser on the disposal process. De Beers, which is currently spending $2-billion on the Venetia underground diamond mining project in Limpopo, is intent on giving another operator the opportunity to take Voorspoed beyond 2020, when it is scheduled to close.