Kimberley diamond mines on borrowed time

DE Beers looks likely to close its three old underground mines at the historic South African diamond centre of Kimberley, after authorising operational management to engage the government and other stakeholders on the future of the mines.

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The depleting mines, which are over 100 years old, are projected to lose 150 million rand this year.

De Beers said the mines currently only produce around 10% of Kimberley’s output.

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