De Beers maintains exploration expenditure in SA, says not selling Voorspoed mine

De Beers said it will maintain its diamond exploration expenditure in South Africa of between R30 million ($2.7 million) and R35 million ($3.2 million) a year, as it seeks to find the next diamond mine for the group.
Mining Weekly quoted the chief executive of the South African arm of the diamond group, De Beers Consolidation Mines (DBCM), Phillip Barton as saying that they had the human resources, geological data and infrastructure to support ongoing exploration projects.
"We’ve got to find the next mine for De Beers,” he said.
We’re starting to get the turnover on ground that we require and we’re finding kimberlites.”
He noted that the company scaled down its exploration expenditure due to the global economic meltdown of 2008.
However, the situation had now improved to the current levels, Mining Weekly reports.
Meanwhile, DBCM has refuted reports that it was planning to offload its Voorspoed mine, also in South Africa. DBCM was currently mining at Venetia and Voorspoed.
“Voorspoed is not in the market,” said Barton. “Why would you want to dispose of a mine that is putting profit on the table?”
Voorspoed’s current life-of-mine extends to 2021.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished