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De Beers seeks buyer for Voorspoed diamond mine in South Africa

Anglo American Plc unit De Beers SA said Nov. 27 that it is seeking expressions of interest from potential buyers for its Voorspoed open pit diamond mine in South Africa.

"After evaluating a range of options, the decision to place Voorspoed mine on the market has been taken to provide the opportunity for responsible lower-cost operators to employ a different operating model that could potentially extend the mine's operating life beyond 2020," the company said.

Standard Bank of South Africa Ltd. is advising De Beers on the sale process.

As part of the effort to expand its offshore operations, De Beers recently ordered a new US$142 million custom-built diamond-mining vessel.