De Beers Consolidated Mines has been granted a new order mining right to mine for diamonds at the Voorspoed Mine in central South Africa.
This will be the first new mine for DBCM since its establishment, in May 2006, as a Black Empowered standalone South Africa company within the global De Beers group of companies.
“After a very positive and constructive engagement process we have reached an agreement with the DME (Department of Minerals and Energy) and we are now, with this license to mine, able to embark on developing a new mine at a cost of about $160 million,” said DBCM managing director David Noko.
The sod turning ceremony symbolizing the start of the construction will take place on Monday. The mine is expected to be in production by mid 2009.
The mine is situated near Kroonstad in the Free State Province.