BBC News·3 min read·medium
Diamond giant De Beers halts work at flagship South African mine as demand plummets
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✦AI Summary
De Beers is suspending operations at its flagship Venetia mine in South Africa for two years due to falling diamond prices and competition from lab-grown alternatives. The company aims to use this time to improve infrastructure while facing broader industry shifts and potential divestment by parent company Anglo American.
Image source, Getty Images Image caption, Sales are falling as some buyers switch to lab-grown diamonds
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