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65-475: The Consolidated Building was originally owned by Johannesburg Consolidated Investment Corporation Ltd. The Johannesburg Consolidated Investment Corporation was started as a family business by Barnett (Barney) Isaacs and his older brother Harry who later changed their surname to Barnato. Barney Barnato subsequently became a household name in South Africa and in international financial circles. The Corporation

130-486: A micron deep. This inscription helps distinguish Forevermark diamonds from other natural diamonds though, similarly to when distinguishing natural diamonds from synthetic diamonds , it requires specialist detection equipment to view. The inscription also helps maintain scarcity: the Forevermark website boasts that only a tiny percentage of diamonds qualify for the Forevermark brand. De Beers Diamond Jewellers (DBDJ)

195-407: A German immigrant to Britain and later South Africa who had earlier founded mining company Anglo American with American financier J. P. Morgan , was elected to the board of De Beers. He built and consolidated the company's global monopoly over the diamond industry until his death in 1957. During this time, he was involved in several controversies, including price fixing and trust behaviour, and

260-474: A compilation album, Diamond Music , released in 1996, which features the 'Palladio' suite. A 2010 commercial for Verizon Wireless parodied the De Beers spots. In May 2018, De Beers introduced a new brand of jewellery called "Lightbox" made with synthetic diamonds . The synthetic stones start at $ 200 for a quarter carat to $ 800 for a full carat diamond. The new lab-grown diamonds retail for about one-tenth

325-595: A gun named Long Cecil in the company workshops. In 1898, diamonds were discovered on farms near Pretoria , Transvaal. One led to the discovery of the Premier Mine . The Premier Mine was registered in 1902 and the Cullinan Diamond , the largest rough diamond ever discovered, was found there in 1905. (The Premier Mine was renamed the Cullinan Mine in 2003.) However, its owner refused to join

390-556: A heritage asset for the following reasons: Barney Barnato Barney Barnato (born Barnet Isaacs; 21 February 1851 – 14 June 1897) was a British Randlord and diamond magnate who was one of the entrepreneurs who gained control of diamond mining, and later, gold mining in South Africa from the 1870s up to World War I . He was known as a rival of Cecil Rhodes . Barney Barnato was born Barnet Isaacs in Aldgate , London, on 21 February 1851, to parents Isaac and Leah Isaacs. He

455-497: A large block of claims that split the Kimberley mine in two. It was owned by a wealthy Parisian diamond dealer named Jules Porges. Barney telegraphed Porges, expressing interest in bidding if a sale was imminent. Rhodes bid £1.4 million to acquire the company. Barney countered by bidding £1.75 million. Before receiving a response from Porges, Rhodes contacted Barney and requested him to withdraw his offer. In exchange for withdrawing

520-545: A major acquisition plan. Barnato doubled his fortune in the boom in South African gold mining shares of 1894–95 before losing most of it in the 1896 share collapse. He built, but never lived in, a vast house on the corner of Park Lane and Stanhope Gate in Mayfair , London, which was bought after his death by the banker Sir Edward Sassoon . Barney married Fanny Christina Bees. Together, they had three children: He

585-431: A major toll on him and left him severely depressed. His family stated that it was totally out of character for him. Especially as a crew member gave evidence at the inquest that Barnato had been walking round the deck with his nephew Solly Joel at the time and as he fell overboard, his last word was "murder!". Solly Joel who was suspected of stealing money from the company then inherited it on Barnato's death. Barnato's body

650-462: Is a three-year, $ 3 million deal. In September 2017, De Beers partnered with UN Women to help the advancement of women within the company and the countries it operates in. In 2018, the two entities launched a program to support 500 women micro-entrepreneurs in Blouberg and Musina communities, near De Beers's Venetia diamond mine . In May 2018, De Beers's group company Element Six launched

715-579: Is made up of a series of joint ventures and wholly owned operations. The joint ventures are: The wholly owned operations are in southern Africa and Canada. Also wholly owned are Forevermark , De Beers Jewellers, the International Institute of Diamond Valuation, De Beers Ventures, the International Institute of Diamond Grading & Research and Element Six (Umicore has a 40% stake in Element Six's abrasives division). Forevermark

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780-612: The De Beers cartel. Instead, the mine started selling to a pair of independent dealers named Bernard and Ernest Oppenheimer , thereby weakening the De Beers stronghold. Francis Oats , who became Chairman of De Beers in 1908, was dismissive of the threats from the Premier Mine and the finds in German South West Africa . However, production soon equalled all of the De Beers mines combined. Ernest Oppenheimer

845-1189: The Snap Lake mine in the Northwest Territories , Canada; this was the first De Beers mine outside Africa and was Canada's first completely underground diamond mine. However, production was suspended when the mine was put on care and maintenance in 2015. De Beers opened the Victor mine in Ontario , Canada, the same year, a day after Snap Lake. This was followed by the opening of the company's third mine in Canada, Gahcho Kue , in September 2016. Trading of rough diamonds takes place through two channels – De Beers Global Sightholder Sales (GSS) and De Beers Auction Sales. GSS sells about 90% of De Beers's rough diamonds, by value, and features wholly owned and joint venture operations in South Africa (De Beers Sightholder Sales South Africa), Botswana (DTCB), and Namibia (NDTC). They sort, value and sell 33% (2013) of

910-436: The 'trilogy ring' (meant to represent the past, present, and future of a relationship) and the 'right hand ring' (meant to be bought and worn by women as a symbol of independence). De Beers ran television advertisements featuring silhouettes of people wearing diamonds, set to the music of ' Palladio ' by Karl Jenkins . The campaign, titled "Shadows and Lights" first ran in the first quarter of 1993. The song would later inspire

975-646: The 12,000-tonne, 113-metre-long SS Nujoma, built at a cost of $ 157 million and named after Sam Nujoma, Namibia's founding president. This vessel, the world's most advanced diamond exploration and sampling vessel, began full operations in June 2017. De Beers Consolidated Mines is responsible for the De Beers mining in South Africa . It is 74% owned by De Beers and 26% by a board-based black economic empowerment partner, Ponahalo Investments. There are two mines – Venetia and Voorspoed. In 2008, De Beers began production at

1040-645: The 1980s to 29.5% in 2019. Seeing these developing trends, the Oppenheimer family announced in November 2011 its intention to sell its entire 40% stake in De Beers to Anglo American plc , thereby increasing Anglo American's ownership of the company to 85% (with the remaining 15% owned by the Government of the Republic of Botswana). The transaction was worth £3.2 billion (US$ 5.1 billion) in cash and ended

1105-589: The American style. At 5832m2, this building offers prime office space in the Johannesburg CBD. Some of the internal walls were removed during refurbishment in 2008 to create modern open plan office spaces and air conditioning was also installed. The Consolidated Building is now owned by Dreamworld Investments 374 and was listed by the Institute of South African Architects Grade A−. It is recognised as

1170-594: The De Beers DMC into Kimberley Central DMC, forming one company, De Beers Consolidated Mines . Barney emerged as the largest shareholder, with 6,658 shares in the new company. A group of shareholders from Kimberley Central applied to the Supreme Court of the Cape to stop the merger. The judge ruled in favor of the applicants. The result was that Kimberley Central was liquidated, and De Beers Consolidated purchased

1235-561: The Oppenheimer dynasty's 80-year ownership of De Beers. In 2020, the De Beers Company released a statement of a values change, promising the world that it is committed to not using slave labor within the company. De Beers successfully advertised diamonds to manipulate consumer demand. One of the most effective marketing strategies has been the marketing of diamonds as a symbol of love and commitment. Copywriter Frances Gerety (1916–1999) working for N. W. Ayer & Son coined

1300-473: The Republic of Botswana. It operates four mines – Jwaneng, Orapa, Letlhakane and Damtshaa, though Damtshaa was put on care and maintenance in 2015. In Namibia, mining is carried out through Namdeb Holdings , a 50–50 joint venture with the Government of the Republic of Namibia. Namdeb Holdings is made up of Debmarine Namibia (covering offshore mining) and Namdeb Diamond Corporation (land-based coastal mining). For offshore mining, motor vessels are used, including

1365-670: The United Nations. The initial focus of the UN's investigation was on Jonas Savimbi 's UNITA movement in Angola, which was found to have bartered uncut diamonds for weaponry despite international economic and diplomatic sanctions being in effect through United Nations Security Council Resolution 1173 . In 1999, De Beers Group stopped all outside buying of diamonds in order to guarantee the conflict-free status of their diamonds effective from 26 March 2000. In December 2000, following

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1430-761: The age of two to become a racing driver in the 1920s, one of the so-called Bentley Boys . De Beers The De Beers Group is a South African–British corporation that specializes in the diamond industry, including mining, exploration, retail, inscription, grading, trading and industrial diamond manufacturing. The company is active in open-pit, underground, large-scale alluvial and coastal mining. It operates in 35 countries with mining taking place in Botswana , Namibia , South Africa, and Canada. It also has an artisanal mining business, Gemfair , which operates in Sierra Leone . From its inception in 1888 until

1495-513: The aim of providing a range of services and equipment in the field of diamond verification. It is based in London, Antwerp and, from 2015, in Surat , India . The IIDGR works only on diamonds that meet the requirements of the United Nations' World Diamond Council Kimberley Process . In 1999, a campaign by Global Witness to highlight the role of diamonds in international conflicts led to a review by

1560-704: The approach in 2008 when it broke with 44 years of direct sales to hold the diamond industry's first online international auction sale. It is now the world's leader in this kind of auction sale. De Beers employs more than 30,000 people around the globe on five continents, with more than 17,000 employees in Africa. Almost 8,000 people are employed in Botswana, around 6,200 in South Africa, nearly 2,900 in Namibia, some 1,260 in Canada and about 320 in exploration. In February 2020, De Beers reported its worst set of earnings since

1625-528: The chairman and director of Anglo-American and De Beers in December 1982. During the 20th century, De Beers used several methods to leverage its dominant position to influence the international diamond market. First, it attempted to convince independent producers to join its single channel monopoly. When that did not work, it flooded the market with diamonds similar to those of producers who refused to join in, depressing their price and undermining return for

1690-473: The closure of this office, the company was reclassified as De Beers plc in 2017, with its head office now in Jersey. It is made up of two shareholdings: Anglo American plc has an 85% shareholding and the Government of the Republic of Botswana owns 15% directly. De Beers plc is the holding company of The De Beers Group of Companies. It is involved in many parts of the diamond value chain, from mining to sales, and

1755-460: The company was bought by miner Anglo American in 2012. On 4 November 2011, Anglo American plc and CHL Holdings announced their agreement for Anglo American to acquire an incremental interest in De Beers, increasing Anglo American's 45% shareholding in the world's leading diamond company to 85%. De Beers plc was originally incorporated as De Beers Société Anonyme in 2000 in Luxembourg. Following

1820-490: The company was the sole owner of all diamond mining operations in the country. In 1889, Rhodes negotiated a strategic agreement with the London-based Diamond Syndicate, which agreed to purchase a fixed quantity of diamonds at an agreed price, thereby regulating output and maintaining prices. The agreement soon proved to be very successful – for example, during the trade slump of 1891–1892, supply

1885-492: The company's valuable mines. Rhodes personally moved into the city at the onset of the siege in order to put political pressure on the British government to divert military resources towards relieving the siege rather than more strategic war objectives. Despite being at odds with the military, Rhodes placed the full resources of the company at the disposal of the defenders, manufacturing shells , defences, an armoured train and

1950-571: The company. The Barnato Brothers shares were bought out for the sum of £5,338,650 in 1889. De Beers Consolidated purchased two other mines in the area, Bultfontein and Du Toitspan. By 1888, after the consolidation of diamond mining had taken place, the Barnatos were late in coming to Johannesburg. A dozen gold mining companies floated on both the London Stock Exchange and the new Johannesburg exchange. These mining shares were given

2015-460: The cost of naturally occurring diamonds. The new brand began selling in September 2018 and the stones are produced in Gresham, Oregon , a $ 94 million facility using the region's cheap electricity, which opened in 2018 with the capacity for 500,000 rough carats of diamonds per year. Mining in Botswana takes place through the mining company Debswana , a 50–50 joint venture with the Government of

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2080-441: The country's war effort during World War II. During the early 1930s, the company conducted experimental work which in large part pioneered the use of diamond drills . This was highly preferable to more expensive and rarer carbons previously in use. The Free State Gold Rush was made possible in part due to this innovation, as the fields required deep drilling to reach gold-bearing reefs . In May 1955, Ernest Oppenheimer opened

2145-477: The decision by producers in Canada and Australia to distribute diamonds outside the De Beers channel, as well as increasingly negative publicity surrounding blood diamonds , which forced De Beers to protect its image by limiting sales to its own mined products. The combination of a more fragmented and thus more competitive diamond market, increased transparency, and greater liquidity , caused De Beers's market share of rough diamonds to fall from as high as 90% in

2210-483: The elevations. The facades of the Consolidated Building are of brick with plaster embellishment and a polished grey granite plinth. The linear vertical elements express the internal steel structure. The purest example of the American office block style and probably the earliest example in South Africa. The building references the ‘Chicago Style of America’. The Consolidated Building’s facade articulation

2275-458: The famous advertising slogan, 'A Diamond is Forever', in 1947. In 2000, Advertising Age magazine named 'A Diamond is Forever' the best advertising slogan of the 20th century. The slogan may have inspired the James Bond book, film and song title Diamonds Are Forever . Other successful campaigns include the ' eternity ring ' (meant as a symbol of continuing affection and appreciation),

2340-458: The industry, as well as eliminating sources of excess supply. In 2018, De Beers used blockchain technology to successfully track 100 high-value diamonds. The diamonds were tracked through the manufacturing process from the mine to the retailer in order to ensure their quality and conflict-free status. In 2019, they launched their own end-to-end traceability platform called Tracr to enable all diamonds to be identified and traced as they move from

2405-547: The mine to the store. Signet and the Russian-based Alrosa are using the technology. In August 2017, De Beers partnered with the Stanford Graduate School of Business to accelerate business ventures to market in Botswana, Namibia, and South Africa. As part of two programs, the partnership is set to help teach early entrepreneurs how to commercialize their business ideas. The partnership

2470-777: The music halls. Harry was introduced as the Great Henry Isaacs and Barney as "and Barnett too". They became known as Bar-na-to, or the Barnato Brothers. In 1873, Barney joined his brother Harry in the Cape Colony during the diamond rush , which accompanied the discovery of diamonds at Kimberley , and they eventually bought four claims in Kimberley. Initially, more than 3,600 claims were being mined at Kimberley. Over time, this number reduced to under one hundred. A French mining company, Compagnie Française des Mines de Diamants du Cap de Bonne Espérance, held

2535-524: The new headquarters which combined the operations of Anglo American and the De Beers group. After Ernest died in November 1957, operation of Anglo and De Beers were passed on to his son, Harry Oppenheimer . Under Harry, the company expanded to several different countries around the globe, including Canada, Australia , Malaysia , Portugal , Zambia , and Tanzania . In South Africa, Harry opposed apartheid , arguing that it hindered economic growth. Despite this, De Beers has been criticized for profiting from

2600-464: The nickname 'kaffirs'. With his nephews Woolf and Solly, Barney went on a buying spree, spending more than a million pounds in one year. Additionally, he invested in Johannesburg's infrastructure. Early in 1889, Barney floated his first gold mining company on the London and Johannesburg stock exchanges. After the formation of his Johannesburg Consolidated Investment Company that year, he went on

2665-600: The offer, Rhodes proposed to purchase the company at his original bid price and sell it to Barney for £300,000 plus a twenty percent holding in Barnato's Kimberley Central Diamond Mining Company. After several days of consideration, Barney agreed to withdraw his offer, and a month later, he owned the French Company. Shares in Kimberley Central DMC surged from £14 to £49. Rhodes proposed that they merge

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2730-589: The recommendations of the Fowler Report , the UN adopted the landmark General Assembly Resolution A/RES/55/56 supporting the creation of an international certification scheme for rough diamonds. By November 2002, negotiations between governments, the international diamond industry, led by De Beers, and civil society organisations resulted in the creation of the Kimberley Process Certification Scheme (KPCS), which sets out

2795-497: The requirements for controlling rough diamond production and trade and became effective in 2003. De Beers states that 100% of the diamonds it now sells are conflict-free and that all De Beers diamonds are purchased in compliance with national law, the Kimberley Process Certification Scheme and its own Diamond Best Practice Principles. The Kimberley process has helped restore the reputation of

2860-466: The resistant. It also purchased and stockpiled diamonds produced by other manufacturers as well as surplus diamonds in order to control prices by limiting supply . Finally, it bought diamonds when prices fell considerably naturally, to constrict supply and drive their value back up, such as during the Great Depression. In 2000, the De Beers business model changed because of factors such as

2925-546: The site of the Big Hole and the De Beers mine, two successful diamond mines. Their name, which was given to one of the mines, subsequently became associated with the company. Cecil Rhodes , the founder of the British South Africa Company , got his start by renting water pumps to miners during the diamond rush that started in 1869, when an 83.5 carat diamond called the ' Star of South Africa '

2990-495: The start of the 21st century, De Beers controlled 80% to 85% of rough diamond distribution and was considered a monopoly . By 2000, the company's control of the world diamond supply decreased to 63%. The company was founded in 1888 by British businessman Cecil Rhodes , who was financed by the South African diamond magnate Alfred Beit and the London-based N M Rothschild & Sons bank. In 1926, Ernest Oppenheimer ,

3055-479: The system during the apartheid period. By 1973, Anglo and De Beers accounted for 10 percent of South Africa's gross national product and 30 percent of the country's exports. Throughout the 1960s and 1970s, De Beers attempted to secretly enter the United States' diamond market, being forced to divest its American assets in 1975 to avoid the risk of violating anti-trust laws. Harry Oppenheimer stepped down as

3120-550: The world's diamond production. Ernest Oppenheimer took over the chairmanship of the company in 1929, after buying shares and being appointed to the board in 1926. Oppenheimer was very concerned about the discovery of diamonds in 1908 in German South West Africa , fearing that the increased supply would swamp the market and force prices down. Former CIA chief Admiral Stansfield Turner claimed that De Beers restricted US access to industrial diamonds needed for

3185-444: The world's rough diamonds by value. There are two main types of customers for rough diamonds – Sightholders and Accredited Buyers. Sightholders have a term contract. Accredited Buyer status, introduced in 2015, allows companies that are not traditional Sightholders to access diamonds that were not allocated to existing Sightholders. De Beers also sells about 10% of its rough diamonds through online auction sales. The company pioneered

3250-535: Was accused of not releasing industrial diamonds for the US war effort during World War II. In 2011, Anglo American took control of De Beers after buying the Oppenheimers' family stake of 40% for US$ 5.1 billion (£3.2 billion) and increasing its stake to 85%, ending the 80-year Oppenheimer control of the company. In May 2024, Anglo American announced its intention to spin off or sell De Beers. The name 'De Beers'

3315-460: Was also the father of Isabel Louisa Barnato (born 5 June 1891, died 19 June 1891 ), daughter of Isabella Barnato (born Isabella Clarke 30 November 1865, died 30 October 1891 ). Barnato died in 1897; records state that he was lost overboard near the island of Madeira while on a passage home to England. Although, some have suggested that this was suicide, and that the Jameson Raid had taken

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3380-481: Was appointed the local agent for the powerful London Syndicate, rising to the position of mayor of Kimberley within 10 years. He understood the core principle that underpinned De Beers's success, stating in 1910 that "common sense tells us that the only way to increase the value of diamonds is to make them scarce, that is to reduce production". During World War I, the Premier Mine was finally absorbed into De Beers. When Rhodes died in 1902, De Beers controlled 90% of

3445-581: Was derived from the two Dutch settlers , brothers Diederik Arnoldus de Beer (1825–1878) and Johannes Nicolaas de Beer (1830–1883), who owned a South African farm named Vooruitzicht ( Dutch for "prospect" or "outlook") near Zandfontein in the Boshof District of Orange Free State . After they discovered diamonds on their land, the increasing demands of the British government forced them to sell their farm on 31 July 1871 to merchant Alfred Johnson Ebden (1820–1908) for £6,600. Vooruitzicht would become

3510-513: Was distinctly similar to that of Adler & Sullivan’s Auditorium Building (1887-9) in Chicago. It also showed similarities with the horizontally directed treatment of windows and rounded corners with narrow windows used by Sullivan in his Carson, Pirie & Scott building (1899-1904) in Chicago. Engineers Millikin Bros of New York were the contractors for the building, reinforcing the connection with

3575-572: Was educated by Moses Angel at the Jews' Free School and became a music hall entertainer and prizefighter. Barney grew up in Whitechapel . His mother, Leah, died in 1852. His father, Isaac Isaacs, made a living by selling second hand clothing and fabric remnants. Barney and his older brother Harry left school in their early teens and entered their father's business. Their siblings were Kate, Sarah and Lizzie. Barney and Harry performed on stage in

3640-527: Was established in 2001 as a 50:50 joint venture between The De Beers Group of Companies and LVMH , the French luxury goods company. The first De Beers boutique opened in 2002 on London's Old Bond Street as the brand's flagship store. Since then, stores have opened in various cities around the world. In March 2017, The De Beers Group of Companies acquired LVMH's 50% shareholding in DBDJ and new name De Beers Jewellers

3705-574: Was found at Hopetown near the Orange River in South Africa. He invested the profits of this operation into buying up claims of small mining operators, with his operations soon expanding into a separate mining company. He soon secured funding from the Rothschild family , who would finance his business expansion. De Beers Consolidated Mines was formed in 1888 by the merger of the companies of Barney Barnato and Cecil Rhodes, by which time

3770-403: Was launched in 2008 as one of the two diamond brands from The De Beers Group of Companies. According to the company website, "Each Forevermark diamond is inscribed with a promise: that it is beautiful, rare and responsibly sourced." Forevermark diamonds are inscribed with an icon and unique identification number, albeit invisibly to the naked eye: the Forevermark inscription is 1 ⁄ 20 th of

3835-421: Was originally built as six storeys, the original extent indicated by the cornice with dentil detailing, and two additional storeys were built on top in 1935 (architect unknown). It was this alteration that meant the original small dome to the corner tower was lost. The additional stories are clearly distinguished from the original building due to the set back from the facade and also the paler material used to render

3900-487: Was recovered from the sea and buried at Willesden Jewish Cemetery in London. The theory regarding the suicide of Barnato has also been tied to one of his heirs, his nephew Woolf Joel (1863 – 14 March 1898), who was shot and killed in his business offices in Johannesburg by a con-man named Karl Frederick Kurtze, who in 1898 went under the name Ludwig von Veltheim. In his trial for murder, von Veltheim hinted that he

3965-430: Was responsible for the investments of many mining firms and collieries in South Africa . The Consolidated Building was designed by architect Theo H. Smith of London, with supervision by Aburrow and Treeby architects of Johannesburg. It was built in 1904 and opened in 1906. This eight storey steel-framed building addresses the street corner of Fox Street and Harrison street with an attractive rounded corner entrance. It

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4030-419: Was simply curtailed to maintain the price. Rhodes was concerned about the break-up of the new monopoly, stating to shareholders in 1896 that the company's "only risk is the sudden discovery of new mines, which human nature will work recklessly to the detriment of us all". The Second Boer War proved to be a challenging time for the company. Kimberley was besieged as soon as war broke out, thereby threatening

4095-404: Was suggested by Brian Roberts, in his book The Diamond Magnates , that Barnato had been approached by von Veltheim too. His fortune was divided up among his family, among which were his sister Sarah and her husband Abraham Rantzen, great-grandparents of TV presenter Esther Rantzen . Another beneficiary was his son, Woolf Barnato , who used part of the multimillion-pound fortune he inherited at

4160-476: Was supposed to be orchestrating a plot to kidnap Paul Kruger , President of the Transvaal Republic , that Barnato and Joel were backing. The murder stemmed from blackmail against Joel, but von Veltheim claimed he was only seeking his promised payment. As a result, von Veltheim was able to get an acquittal from a Boer Jury (possibly due to anti-British and anti-Semitic feelings towards the deceased). It

4225-427: Was unveiled. De Beers Ventures De Beers Ventures was established by De Beers Group in June 2017 to consider minority stake investments in start-ups and growth companies that could be of benefit to De Beers Group or the broader diamond sector. The International Institute of Diamond Grading & Research The International Institute of Diamond Grading & Research (IIDGR) was set up by De Beers in 2008, with

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