Diamonds aren’t forever? 💎
Production at South Africa’s biggest diamond mine is set to stop for two years - because fewer people are buying the gems.
Announcing its decision to close the Venetia mine - which produces more than 40% of South Africa’s diamonds and employs over 4,000 people - De Beers said it needed to cut costs and streamline operations.
Prices across the industry have fallen, and there is stiff competition from much cheaper lab-grown gems.
Tap the link in BBCNews’s bio to find out what De Beers is planning on doing with the mine during the downtime.
(Getty)
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