The DeBeers Group, a South African diamond mining company, began in 1871 with the discovery of diamonds in a mine owned by two Afrikaner farmers named DeBeers. Unable to handle the rush that followed, they sold two mines, one named “DeBeers”, the other “Kimberley.” An Englishman named Cecile Rhodes arrived with the intent to farm the land, but instead bought a claim to one of the mines. Rhodes joined Barney Barnato, who owned stakes in the nearby Kimberly Mine, and The DeBeers Consolidated Mines Limited was founded in 1888.
In 1902, Ernest Oppenheimer, a diamond merchant from Germany, arrived in South Africa as a company representative in order to oversee operations there. In 1919 he founded Consolidated Diamond Mines of South West Africa Ltd., and after forming a competitive company named Anglo American, he took over DeBeers from Cecil Rhodes’ successors in 1929. DeBeers has employed as many as 24,000 people in 19 different countries, involved with everything from exploration to marketing.
In 1947, at a time when diamond prices were falling worldwide, Harry Oppenheimer worked with a Philadelphia advertising agency to capitalize on the American fascination with diamonds, and the enduring ad campaign, “A diamond is forever” was born. Diamond engagement rings become the standard practice. Future campaigns like the diamond eternity ring, and “right hand rings” increase diamonds popularity as the gemstone of choice, and DeBeers occupies the number one position in the worldwide diamond market.
Over the years, the search for diamonds has gone beyond the borders of South Africa to deep-sea exploration to the Canadian arctic. Today, DeBeers is “the world’s leading diamond company, unrivaled in exploration, mining and market...
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Zoellner, T. (2006). The heartless stone: A journey through the world of diamonds, deceit, and desire. New York: St. Martins Press.
Engagement rings initially served a double purpose. In the days when brides were purchased, these rings were partial payment for the bride in addition to symbolizing the groom's intentions and woman's agreement. Diamonds were first found in Medieval Italy and due to their hardness symbolized enduring love.
Beith, Malcolm. “The Current State of Mexico’s Many Drug Cartels.” Insight Crimes. n.p., 25 Sep.
Women buying diamonds for themselves, for the joy of wearing them invested in jewelry in case of emergency.
Some of the highest producing diamond mines are countries in Africa. Countries that had some of the highest rate of conflict were Angola, The Democratic Republic of Congo, Sierra Leone, and Liberia. The ...
Said to be a girl's best friend, diamonds are often seen as a symbol of poverty, war, and death for many Africans. Due to the cruel and inhuman manner by which these diamonds are mined and process, the trade of these illicit gems must be stopped. Conflict diamonds or blood diamonds are often associated with war, forced labor, child labor, and smuggling. Paul Orogun wrote an article for in the journal, World Affairs, where he describes some of the brutal conflicts in recent African history. “Blood Diamonds and Africa's Armed Conflicts in the Post—Cold War Era”, in which he talks about the conflicts associated with the illegal diamond trade. Orogun de...
Mexican drug cartels rise to dominance. THE WEEK Publications, 25 January 2014. Web. The Web. The Web.
...n every shape and size, good and bad, encompass the journey of a diamond. But, the final destination of a diamond is in the form of a ring- promising a lifelong commitment in the first world tainted with the blood of third world grief.
Beith, Malcolm. (2013, September 24). The current state of Mexico's many drug cartels. CTC Sentinal
Santarossa, B. (2004, January 13). Diamonds: Adding lustre to the Canadian economy. Retrieved November 06, 2017, from https://www.statcan.gc.ca/pub/11-621-m/11-621-m2004008-eng.htm
iii. India dominates the world’s cut and polished diamonds (CPD) market. In value terms, the country accounts for approximately 55 percent of global polished diamond market and nearly 9 percent of the jewellery market. According to GJEPC's provisional estimate, cut and polished diamonds registered 19.06 percent growth in exports at US$ 7.11 mn.
Schlosser, K. (2013). Regimes of ethical value? landscape, race and representation in the Canadian diamond industry. Antipode, 45(1), 161-179. doi:10.1111/j.1467-8330.2012.00996.x
[5] Diamond Industry Annual Review, De Beers Signs New Angolan Agreement, [internet] Accessed on: 13th November 2005, http://www.pacweb.org/e/images/stories/documents/addendum%20angola%202005-english.pdf
The film marker is trying to raise awareness of the illicit conflict diamond trade and reinforcing the Kimberley process1 and showing how it will stem the flow of conflict diamonds. This is successful mainly due to the public outburst after the movie. The great impact of the movie has caused diamond companies like De Beers2 to start a pre-emptive PR (public relationship) campaign, even before the movie was released to inform people that their diamonds are conflict-free.
The value of diamonds lies on their physical properties that make them suitable for many applications. Natural diamonds are only of high value if they are scarce in nature. Realizing this, De Beers Consolidated Mines was formed to control the supply of diamonds from mines across the world. The diamond market is influenced by mine production, rough diamond distribution, preparation/cutting, and retail markets. The project will be concentrating on the retail markets for diamonds and other high end jewelry.
The third determinant of the diamond – related and supporting industries looks at the industry suppliers and...