De Beers will suspend production at its Venetia mine in Limpopo for two years as the global natural diamond industry battles weak demand and growing competition from laboratory-grown diamonds.

De Beers announced Monday it will pause production at South Africa's largest diamond mine for two years to reduce costs while trading conditions remained tough

De Beers will suspend production at its Venetia mine in Limpopo for two years as the global natural diamond industry battles weak demand and growing competition from…

The global diamond mining giant, De Beers, has decided to halt operations at the Venetia mine, the largest diamond mine in South Africa

Venetia mine shuttering for two years signals deepening crisis in natural diamond market