Economics of Rough Diamonds Essay

:: 1 Works Cited
Length: 1599 words (4.6 double-spaced pages)
Rating: Blue      
Open Document

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Countries in Africa rely heavily on their exportation of diamonds along with oil for income. The revenue from the exportation of rough diamonds has either helped countries develop or lead to catastrophic events. The economic comparison of countries that sell rough diamonds can vary greatly. Some African countries strive for economic independence where as others have faced years of conflict and poverty. The economic and political oversight of rough diamonds compared differently throughout countries in Africa. Two countries that are plentiful in rough diamond resources are Botswana and Angola. These two countries took two different economic paths. Botswana embraced a democratic government and escaped civil war while Angola has suffered years of civil war. Despite the fact that both countries sell the same resource, they faced different economic futures.

In 1967, Botswana became an independent democratic country from Britain. Most of Botswana's revenue at that time came from the agricultural industry. The government of Botswana was approached by a corporation called DeBeers in the early 1970's. DeBeers is a large corporation that oversees the production of rough diamond mines. DeBeers offered Botswana a 50/50 “share ownership in all of the country's diamond mines” (Taylor and Mokhawa 263). Botswana was one of few countries in Africa that saw the potential for economic growth by having a joint venture with DeBeers. When DeBeers and Botswana formed their first partnership, it became a new company called Debswana. The first major exploration discovery of the joint partnership was in a city called Boteti. This is an area rich in rough diamonds and is now called the Orapa field. The diamond mine located here is home to the

... middle of paper ...

Magardie, Khadija. "AIDS Warrior ~ Essay: AIDS in Angola – A Ticking Time

Bomb? WideAngle| PBS." PBS: Public Broadcasting Service. 28 May

2003. Web. 18 Apr. 2011.

Molomo, Mpho G. "Civil-Military Relations in Botswana's Developmental State."
African Studies Quarterly. The Online Journal for African Studies, 2001.
Web. 18 Apr. 2011.
Nocera, Joe. "Diamonds Are Forever in Botswana." The New York Times., 8 Aug. 2008. Web. 12 Apr. 2011.

Sherman, Jake H. "Profit vs. Peace: The Clandestine Diamond Economy of
Angola." Journal of International Affairs53.2 (2000): 699. Academic
Search Complete. EBSCO. Web. 18 Apr. 2011.

Taylor, Ian, and Gladys Mokhawa. "Not Forever: Botswana, Conflict Diamonds
and the Bushmen." African Affairs102.407 (2003): 261. Academic Search
Complete. EBSCO. Web. 18 Apr. 2011.

Click the button above to view the complete essay, speech, term paper, or research paper

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

This essay is 100% guaranteed.

Title Length Color Rating  
Diamonds in the Rough Essay - Diamonds in the Rough Nature is full of many awe-inspiring things, from majestic mountains to carpets of flowers. There is much artistic creativity inspired by nature, but it is often of valleys, and streams. Rarely do we see the smaller pieces that make up such grand pictures. There are few people who appreciate the beauty of a single leaf, or a single drop of water. It is even rarer to find a person who finds beauty in a rock. For most people rocks are only beautiful if polished up and set in gold or silver....   [tags: Nature Rocks Outdoors Essays] 1556 words
(4.4 pages)
Strong Essays [preview]
Essay on The Conflict Diamonds of Africa - A beautiful precious diamond can last forever, but what most people do not know is that a majority of our diamonds come from Africa. The civil wars in Africa over diamonds began around 1961 and ended in 2003. Conflict diamonds were rampant and it would be difficult to say if any jewelry sold prior to 2003 was conflict free. Conflict diamonds are diamonds that have been mined and were controlled by African rebels. The rebels would use the profits from selling conflict diamonds to fund illegal activity and to purchase more weapons for their armies....   [tags: The Blood Diamonds of Africa]
:: 3 Works Cited
1039 words
(3 pages)
Strong Essays [preview]
Diamonds are Forever: the James Bond Franchise and Blood Diamonds Essay - Diamonds symbolize wealth, success, power, and really all of the characteristics of living the good life. Shirley Bassey immortalized her love for the jewels as she sang “diamonds are forever, they are all I need to please me “are the first two lines of the song. Diamonds are forever is the theme song of the same name for the seventh film in the James Bond Franchise. Diamonds are forever was released in 1971, transitioning into the decade 2010 I believe we still have the same Obsession on the value we as consumers and a society place on Diamonds....   [tags: James Bond, diamonds, blood diamonds, ] 2097 words
(6 pages)
Powerful Essays [preview]
The History of the Diamond Cartel and Its Role in Determining the Price of Diamonds - Diamonds have been identified as being precious but expensive gems for many decades. Diamonds were extremely rare, only found in India and Brazil until the late nineteenth century (Vogelsang, 2005: 5). After the discovery of diamonds in South Africa, the diamond industry began to flourish. Diamonds then became very abundant and cheap to produce. In order for the value of diamonds to remain as high as they were during the phase in which they were still rare, a diamond cartel was introduced. A cartel is defined as a group of firms that gets together to make output and price decisions (Cartel Theory of Oligopoly, n.d.)....   [tags: precious gem stones, synthetic diamonds]
:: 7 Works Cited
1180 words
(3.4 pages)
Strong Essays [preview]
Essay on The Truth About Blood Diamonds - It’s hard to imagine that a mineral could be fueling wars and funding corrupt governments. This mineral can be smuggled undetected across countries in a coat pocket, then be sold for vast amounts of money. This mineral is used in power tools, parts of x-ray machines, and microchips but mostly jewelry. Once considered the ultimate symbol of love, the diamond has a darker story. "Blood" diamonds or "conflict" diamonds are those mined, polished, or traded in areas of the world where the rule of law does not exist....   [tags: Conflict Diamonds]
:: 9 Works Cited
2857 words
(8.2 pages)
Strong Essays [preview]
The Applications and Making of Artificial Diamonds Essay - The Applications and Making of Artificial Diamonds Diamonds are very unique. Their hardness and beauty have enticed people for many years. Now some of the same attributes that make them appealing also make them useful. To understand these attributes the chemistry of carbon is very important. This unique chemistry is what makes them so hard to make. Much research has gone into the making of diamonds and this has led to many successes in the field. These discoveries have led to machines and processes that make diamond making more efficient and reliable....   [tags: Diamond Diamonds Chemistry Essays]
:: 8 Works Cited
1578 words
(4.5 pages)
Strong Essays [preview]
The Diamond Essay - The Diamond Diamond is the best known gem. It is known as the “king of gems” for its brilliance and for being the hardest mineral on earth. (Foa, p.50) Its characteristics enable it to be used for many different purposes. Since diamonds are the hardest gems on Mohs’ scale, they make useful tools for industrial purposes, such as drilling hard materials. However, they are quite rare, which makes them very valuable. Their beauty and brilliance make them perfect for jewelry.      Diamond is made up of carbon....   [tags: Diamonds Jewelry]
:: 4 Works Cited
1321 words
(3.8 pages)
Strong Essays [preview]
Diamonds Essay - Diamonds When you hear diamonds what do you think?. Most people think of a wedding rings and how expensive they are. Well when some people hear the word diamonds they might think of a company called De Beers and how they are considered a cartel. De Beers proved to be the most successful cartel arrangement in the annals of modern commerce. While other commodities, such as gold, silver, copper, rubber, and grains, fluctuated wildly in response to economic conditions, diamonds have continued, with few exceptions, to advance upward in price every year since the Depression.(the Economist, p17, June 3rd 2000) Through the years De Beers ha...   [tags: Papers] 1278 words
(3.7 pages)
Strong Essays [preview]
Diamonds Essay - Diamonds Introduction For centuries, cultures have regarded diamonds as beautiful, magical, mysterious, and powerful. These precious stones have been sought after, fought over, and worshiped. Diamonds are associated with wealth, achievement, status, and love. The meaning and rarity of diamonds brings about much to consider when making a purchase. The rough gemstones must first be mined and cut. Once cut, diamonds are appraised to determine their value. Some of them undergo treatments to augment their appearance....   [tags: Papers] 1601 words
(4.6 pages)
Strong Essays [preview]
Diamonds Essay - A Diamond is one of the two natural minerals that are produced from carbon. The other mineral is Graphite. Even though both of these minerals are produced from the same element ,carbon, they have totally different characteristics. One of the most obvious difference is that Diamond is hard and Graphite is soft. The Diamond is considered to be the most hardest substance found in nature. It scores a perfect ten in hardness. Because of its hardness a tiny Diamond is used as a cutting and drilling tool in industry....   [tags: essays research papers] 490 words
(1.4 pages)
Strong Essays [preview]