Former De Beers managing director; leads consortium bidding for the company
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Preferred bidder to acquire De Beers from Anglo American
De Beers is pausing production at Venetia, South Africa's largest diamond mine, for two years. The mine accounts for 40% of the country's diamond output and employs about 4,400 people, but every carat it sold last year fetched $66 while extraction cost $110.
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