De Beers Halts Production at South Africa's Largest Diamond Mine

By Adrian Cole

De Beers announced on July 13, 2026, that it will pause production at the Venetia mine in Limpopo, South Africa's largest diamond mine, for two years. This decision is part of a broader strategy to reduce costs in response to challenging global diamond market conditions.

The Venetia mine, which accounted for approximately 40% of South Africa's annual diamond output and about 10% of De Beers' global production, produced 2.23 million carats in 2025 and employed around 4,400 people. The pause is expected to impact these figures significantly.

De Beers, majority-owned by Anglo American, is facing prolonged weakness in diamond trading conditions. The company has already adjusted its production guidance for 2026, lowering it to 21–26 million carats from the previous 26–29 million carats.

While the pause will reduce and delay some expenditures on the Venetia underground project, De Beers plans to maintain investment in infrastructure to ensure the mine's readiness when market conditions improve.