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25 October 2013 Year 24 Vol: 08
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Local communities to gain from
R20 billion investment The De Beers Venetia Mine, situated north of the Soutpansberg, launched the construction phase of the development of an underground project on Tuesday at the site. The company invested R20 billion towards turning the current open-site mine into an underground mine by 2021. Anglo-American PLC’s CEO and De Beers Group’s chairman Mark Cutifani said that a huge workforce of skilled women and men would make the job possible. “In 2016, when the lateral development work begins beneath our feet, there will be an exciting hive of activity – designed with optimum safety in mind,” Cutifani said. He said that De Beers would also continue to enrich and help the local communities, by providing employment and bursaries, building houses and developing the youth. According to Cutifani, first diamonds will be produced in 2021 and the mining
production is set to continue into the 2040s. Some of the dignitaries who attended the event included Pres Jacob Zuma, Min Susan Shabangu (Mineral Resources), Premier Stanley Mathabatha and the British High Commissioner in South Africa, Ms Judith Macgregor. Zuma said that the launch of the underground project marked an important milestone in the development of the diamond industry and the country’s mining sector. “The mining sector remains the cornerstone of the economy, due to the number of direct and indirect jobs, its export earnings and other benefits,” said Zuma. “Estimates suggest that our mineral resources will be exploitable for over a century to come.” He called De Beers’ R20 billion investment in the diamond industry the “biggest single investment in the diamond industry in decades”. “[This] signals that indeed our mining sector is poised for growth, and that it has a bright future,” he stated. - Continues on p2 Pres Jacob Zuma and Min Susan Shabangu unveil the construction phase of the underground project at Venetia Mine.
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