De Beers to shut down Voorspoed Mine

by carly_midgley | July 31, 2018 3:48 pm

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De Beers Group[2] has made plans to close and rehabilitate one of its South African mines. Located in Free State Province, the Voorspoed Mine[3] has been in operation since 2008 and is now scheduled to close by the end of the year.

The decision to shutter the mine was made by the De Beers Consolidated Mines Proprietary Limited (DBCM) board, which determined it was no longer a financially viable operation.

“Our priority throughout the disposal process has always been the safety and well-being of our employees,” said Phillip Barton, CEO of DBCM. “We do not underestimate the impact this will have on Voorspoed Mine’s employees and we have put in place appropriate support structures.”

Attempts to find a financially, technically, and ethically suitable new operator proved unsuccessful, prompting the beginning of the closure process. However, DBCM and South Africa’s Department of Mineral Resources[4] (DMR) have agreed DMR may continue seeking a replacement until the end of August.

Should no successor be found, DMR—along with mine employees, the union, and host communities—will have a voice in the closure proceedings, ensuring they are undertaken in a responsible manner. De Beers has indicated one of its priorities will be maintaining Voorspoed’s strong safety performance, as the mine suffered no lost time injuries between October 2014 and June of this year. It has also remained free of medical treatment cases since June 2015.

The company is continuing to invest in its other South African operation, the Venetia Mine[5] in Limpopo Province, funneling US$2 billion into a plan to take the mine underground.

Source URL: https://www.jewellerybusiness.com/news/de-beers-to-shut-down-voorspoed-mine/

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