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De Beers awards 700M rand transportation deal at Venetia diamond mine

De Beers SA awarded a transportation contract for its Venetia diamond mine in South Africa, valued at between 600 million South African rand and 700 million rand, to six local black economic empowerment partners, Mining Weekly reported June 8.

The contract will involve launching two bus companies to ferry 3,500 employees and contractors between the mine and the areas of Musina and Blouberg on 48 buses, Mining Weekly reported.

Each bus company will initially be 40%-owned by black economic empowerment shareholders, with an option to increase to 51% within the first five years of the eight-year contract.

A unit of Anglo American PLC, De Beers is investing US$2 billion in an underground project to extend the life of the mine to 2045.