Iconic 138-year-old diamond giant stops production in South Africa

[Bloomberg]

Iconic 138-year-old diamond giant stops production in South Africa

Diamond giant De Beers plans to halt production at its South African mine for two years, as the one-time monopoly continues to wrestle with one of the deepest crises to ever hit the industry.

 

[Gordon_R]

BBC version:

De Beers halts diamond production at flagship South African mine for two years

Production will stop for two years at the mine which employs more than 4,000 people.

www.bbc.com

 

[purrr]

Pauses production.

 

[Heisenborg]

One can only imagine what their stockpile looks like. They are artificially trying to create supply issues in order to keep prices high. Its not rocket science

 

[SauRoNZA]

Pauses production.

Is production even the right word? They don’t make the diamonds after all.

 

[purrr]

Is production even the right word? They don’t make the diamonds after all.

True. Used the word used in the article.

 

[FiestaST]

https://twitter.com/x/status/2077035359808975296

De Beers halts diamond production at flagship South African mine for two years

Production will stop for two years at the mine which employs more than 4,000 people.

www.bbc.com

 

[dlk001]

Is production even the right word? They don’t make the diamonds after all.

There was production at Venetia mine until the start of this week.

 

[SauRoNZA]

There was production at Venetia mine until the start of this week.

You are missing what I’m saying.

They are not “producing” diamonds.

The diamonds were already made naturally, they are just finding time and extracting them.

 

[rustypup]

they are just finding time and extracting them.

Then locking them away to sustain the fabricated value

 

[dlk001]

You are missing what I’m saying.

They are not “producing” diamonds.

The diamonds were already made naturally, they are just finding time and extracting them.

Yes, diamonds are formed insitu by a geological process, specifically, in kimberlites as it relates to the article.

"Production of Diamonds" is a mining technical term and it relates to the process of lifecyle mining and beneficiation.

I see what you were saying and I answered in the technical context of what the word means, which I agree, is arguable