De Beers is halting work at its flagship South African mine for two years due…

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What we can confirm

Multiple reputable news outlets report that De Beers is suspending/halting production at its Venetia mine in South Africa, described as the country’s biggest or flagship diamond mine, for about two years in response to weak demand, falling prices, and competition from lab-grown diamonds, which collectively amount to plummeting demand for natural diamonds.

Sources

Checked July 18, 2026 · we'll re-check as this develops