DIAMOND MINING: De Beers opens third new mine this year

SOUTH AFRICA Just months after opening two new diamond mines in Canada, DE BEERS CONSOLIDATED MINES has opened a third one in Free State. The official openings of the Snap Lake mine in the Northwest Territories and the Victor mine, Ontario's first diamond producer, were held in July. On Nov. 4, 2008, the Voorspoed mine was opened; it is the first new kimberlite pipe mine to be opened in South Africa for 16 years.

The Voorspoed mine will produce 800,000 ct of diamonds annually at full production. It has an estimated life of 12 to 16 years. The Voorspoed mine is owned 74% by De Beers and 26% by the black economically empowered (BEE) Pohaholo Trust.

De Beers hails the Voorspoed mine as the first of the next generation of diamond mines. The company says it sets new standards in both environmental and social performance. The company (www.DeBeersGroup.com) acquired the Voorspoed property in 1912.