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De Beers makes snap decision

De Beers, Anglo American's 85%-owned subsidiary, has decided to suspend operations at its Snap Lake diamond mine in the Northwest Territories of Canada on the back of falling rough diamond prices.

Mining Journal
The Snap Lake suspension could cut 1.2Mct a year from De Beers’s production profile (photo: YK Times)

The Snap Lake suspension could cut 1.2Mct a year from De Beers’s production profile (photo: YK Times)

Taking between one to nine months to suspend, Snap Lake is Canada’s only fully underground diamond mine. De Beers said it would evaluate market conditions over the next year to determine the “potential...

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