Sponsored by the Gemological Institute of America
De Beers Looking for Buyer for Voorspoed
It’s an open-pit mine in South Africa known for producing large white and fancy color diamonds.

London--De Beers Group announced Monday that it is looking for a buyer for its Voorspoed mine in South Africa.
It’s an open-pit mine in the country’s Free State Province that opened in 2008 and is known for producing large white and fancy color diamonds.
Voorspoed produced 649,000 carats of diamonds in 2016, according to parent company Anglo American’s annual report, making it one of De Beers’s smaller mines.
De Beers said it is a looking to sell the mine to a “lower-cost operator” that could extend its operating life beyond 2020.
Voorspoed is one of two mines De Beers operates in South Africa. The other is the Venetia mine in Limpopo Province, an open-pit mine that is being taken underground at a cost of 20 billion South African rand ($1.46 billion). Venetia is the bigger and older of the two operations.
The Standard Bank of South Africa Limited is working as the financial adviser to De Beers on the sale of Voorspoed, and the contacts there for the deal are Sandra du Toit, sandra.dutoit@standardbank.co.za, and Randall Starkey, randall.starkey@standardbanks.co.za.
The announcement that it is looking to off-load Voorspoed is the latest in a string of mine sale and closure announcements from De Beers.
It sold the historic Kimberley Mines in South Africa at the end of 2015; closed and then flooded the Snap Lake Mine in Canada after failing to find a buyer; and confirmed earlier this year that it’s considering shutting down land-based mining operations in Namibia.
And earlier this month the diamond company announced it will close the open-pit Victor mine in Canada by 2019, leaving it with just one active diamond mine there.
De Beers has, however, also opened a new diamond mine in Canada, Gahcho Kué in 2016, and is investing in off-shore diamond mining in Namibia via the launch of a $157 million exploration and sampling vessel and announced plans last week for the construction of a $142 million custom-built diamond mining vessel, the largest of its kind in the world.
The Latest

The 2025 Australian Open champion is the jewelry brand’s first athlete ambassador.

The West Village jewelry boutique’s new shop-in-shop is the cornerstone of Nordstrom’s revamped jewelry hall.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The brand’s “Golden Strada” statement necklace features round, marquise, and pear diamonds that sparkle like Fourth of July fireworks.


JSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.

Located on Rodeo Drive, the store’s design was inspired by Hollywood and Los Angeles culture.

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

The new location continues the brand’s celebration of its 25th anniversary.

The online watch marketplace’s “Time Is Our Thing” campaign highlights the importance of time.

Working with Amazon’s Counterfeit Crimes Unit and law enforcement, Pandora helped to shut down a large-scale counterfeit network in China.

The jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.

The company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.

He is remembered for his successful entrepreneurship, generosity, and dedication to his family.

The jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.

Welcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.

Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.

The best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.

This year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.

“The Jewelry Book” comes out this September.

The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

AGS also named the recipient of its “Women in Leadership” scholarship.

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.

Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.