De Beers Pauses Venetia Mine for Two Years | Global News

De Beers is shutting down its iconic Venetia mine in South Africa for two years, citing market pressures and cost-cutting as reasons — but this pause hits hard for 4,000 workers and communities reliant on diamond mining. With rough diamond prices halved since 2022 and lab-grown stones flooding the market, the industry is in upheaval. Even De Beers is jumping into synthetic diamonds, signaling a seismic shift in how we value and buy gems — and raising questions about legacy, labor, and the future of a once-unshakeable empire. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/27c2421bac95de90