According to De Beers Consolidated Mines (DBCM), the refurbishment of the Voorspoed diamond mine is taking place ahead of its schedule. The construction being undertaken in Free State is expected to cost R1.3 billion, from the original R1.2 billion.
The Voorspoed mine had been closed in 1918 as it was considered unviable and uneconomic. After the refurbishment it is expected to achieve full production by end-2008, almost six months earlier than expected. To begin with, production is expected to reach about 800,000 carats a year. De Beers notes that through its lifespan of the 12 to 16 years, Voorspoed is expected to yield about 10 million carats of diamonds.