De Beers Invests in Three New Mines in One Year
The growing popularity in diamonds has surely made a move on the De Beers company’s profits, increasing by 10% to 3.7 billion, which produced 24-million carats within a period of six months ending in June. South African production had fallen by 16% with the sale of Koffiefontein Mine to Petra.
Adjoining countries such as Namibian, which dropped 16%, has also been affected by the power supply crisis.
De Beers Canada put in its first diamonds after Botswana saw production decrease by one percent. Even though Canada summed to only three percent of the group’s total from the first half, it is assumed to rise again, once Snap Lake and Victor mines open this half.
De Beers, one of the largest companies of owning rough diamonds, expects its new Canadian mines to be in place of the Russian gems it is now banned from doing business with, to please competition authorities of the European Union.
 While De Beers deals with the selling of Cullinan and Kimberley’s underground operation’s to Petra, the company is also in the process of buying yet another mine here.
The chairman of the new mine, Voorspoed, says that the deal was being done nine months ahead of time. De Beers has surely marked a record for the first time of purchasing three big mines in one year.
The company of De Beers has not been listed in the stock exchange since June 2001. Yet, it continues to make its financial outcome public, as a 45% owned Anglo American supplementary, with the Oppenheimer family have possession of 40% and the Botswana government 15%. Â