De Beers Group will pause production at its Venetia diamond mine near Musina for two years, a move that will place South Africa's largest diamond mine, and the roughly 4,400 jobs it supports, in limbo.
The diamond producer announced the pause on Monday as part of a broader restructuring of its global business, saying it needed to protect its balance sheet while trading conditions in the rough diamond market remained difficult.
“Consistent with recent actions to improve business re...