Name of the Project
Venetia underground project (VUP).

Location
Venetia mine in Limpopo, South Africa.

Project Owner/s
De Beers Group Managed Operations, a subsidiary of Anglo American.

Project Description
The Venetia mine, which officially opened on August 14, 1992, is currently the biggest producer of diamonds in South Africa.

The mine is currently an openpit operation; however, following shareholder approval, development work began in late 2013 to build the new underground mining operation beneath the current operating openpit. It is currently the biggest diamond mine development under way anywhere in the world.

The new underground mine will extend the life of Venetia mine to beyond 20450 and replace the openpit production from 2022. Venetia will, therefore, remain South Africa’s biggest diamond mine.

The Venetia project comprises the K01 and K02 orebodies. Both kimberlites extend below surface, enabling De Beers to mine to depths of up to 1 000 m. There are indications that K01extends below 1 000 m, and De Beers may explore options that extend the underground operation’s life beyond 2046.

The current mining solution for the underground project will use sublevel caving to extract material from both orebodies. . Further optimisation studies are being completed to determine whether the K02 orebody should be mined using a block cave mining methodology.

Potential Job Creation
During construction, employment will peak at about 2 200 personnel. The workforce currently comprises a total of 1 800 people.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
De Beers plans to invest about $2.1-billion in the VUP until 2025, although first ore is expected from the underground operation in 2022.

Planned Start/End Date
The open pit is expected to cease production in the third quarter of 2022, owing to additional optimisation work in the open pit to ensure an effective transition between the openpit and the underground operation.

The underground operation is expected to deliver its first ore at Venetia during the second half of 2022.

Latest Developments
The execution of the VUP continues to progress as the mine continues to transition to underground operations.
 

Key Contracts, Suppliers and Consultants
Murray & Roberts Cementation (development of underground mine); and Redpath Australia (development of underground mine).

Worley, Stefanutti Stocks, BMH, BBE and ABB are among the contractors involved in the project.

Contact Details for Project Information
De Beers Group Managed Operations senior communications manager Jackie Mapiloko, tel +27 11 374 7173 or email jackie.mapiloko@debeersgroup.com.