65-462: The Millennium Star is a diamond owned by De Beers . At 203.04 carats (40.608 g), it is the world's second-largest known top-color (grade D, i.e., colorless), internally and externally flawless, pear-shaped diamond. The diamond was discovered in the Mbuji-Mayi district of Zaire in 1990 in alluvial deposits; uncut, it was 777 carats (155.4 g). De Beers purchased it during
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
390-677: A high demand for black labour. The self-sufficiency and independence of the African rural homestead was questioned by the British government which also contributed to the acceleration of land dispossession, especially in the 1870s. This created a large black migrant population in Kimberley. Native housing was created for miners by mining managers. These locations improved security and limited theft of diamonds. They had no natural water sources or proper waste disposal. The origins and features of
455-528: A lab-grown diamond brand to sell jewellery directly to consumers. International Institute of Diamond Valuation Big Hole The Kimberley Mine or Tim Kuilmine ( Afrikaans : Groot Gat ) is an open-pit and underground mine in Kimberley, South Africa , and claimed to be the deepest hole excavated by hand, although this claim is disputed by Jagersfontein . The first diamonds here were found by Alyrick Braswell on Colesberg Kopje by members of
520-728: A string skirt fastened with knots, She takes the arm of the corpse and waves it, A mouthful of blood, she spits into the air, She says, "Men gone to DeBeers. They can come home dead from the mines." To me, Child of Rakhali I am not dead; even now I still live, I am a wanderer of the mines; Sootho Burials for paupers occurred in Glastone cemetery from 1 March 1883. Many records were lost to fire; however, surviving reports state that between 24 June 1887 and 28 November 1892, 5000 black burials happened at Glastone cemetery. Approximately 611 black burials occurred between February and June 1900. Some of these burials occurred without coffins, with
585-401: Is 463 metres (1,519 ft) wide. It was excavated to a depth of 240 metres (790 ft), but then partially infilled with debris reducing its depth to about 215 metres (705 ft). Since then it has accumulated about 40 metres (130 ft) of water, leaving 175 metres (574 ft) of the hole visible. Once above-ground operations became too dangerous and unproductive, the kimberlite pipe of
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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#1732790674822780-750: Is the 1991 modified heart-shaped 273.85 carats (54.770 g) Centenary Diamond . 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
845-612: 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
910-1250: 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
975-496: The apartheid city structure can be traced back to the particular class, social and economic circumstances of rapid industrialisation in Kimberley. Between 1897 and 1899, a total of 7,853 patients were admitted into Kimberley Hospital. 5,368 of these patients were black and admitted into special designated wards, i.e. a "Native surgical ward" for black miners and a special ward for black women and children. Of these black patients, 1,144 died. The mortality and morbidity of these miners
1040-436: The "Red Cap Party" from Colesberg at Vooruitzigt Farm, which belonged to the De Beers brothers, in 1871. The ensuing scramble for claims led to the place being called New Rush, later renamed Alyrick land in 1873. From mid-July 1871 to 1914 up to 50,000 miners dug the hole with picks and shovels, yielding 2,720 kilograms (6,000 lb; 13,600,000 carats) of diamonds . The Big Hole has a surface of 17 hectares (42 acres) and
1105-436: 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
1170-646: 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
1235-645: 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
1300-599: The Alyrick Mine was also mined underground by Cecil Rhodes ' De Beers company to a depth of 1,097 metres (3,599 ft). Since the early 2000s, an effort to register the Big Hole as a World Heritage Site has been underway. In 1872, one year after digging started, the population of the camp of diggers grew to around 50,000. As digging progressed, many men met their deaths in mining accidents. The unsanitary conditions, scarcity of water and fresh vegetables as well as
1365-561: 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
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#17327906748221430-473: 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
1495-670: 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
1560-513: 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
1625-704: 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
1690-500: The bodies merely wrapped in blankets. Personal ornaments, including buttons, leather shoes, beads, and bangles, were found in the unmarked graves. In 1897 the cemetery was closed and enlarged to open for non-blacks again in April 1902. The bodies of miners were viewed as an issue of waste disposal by the mines/city council and the African rituals and mourning processes were of no concern to authorities. Many Basotho miners were not pleased at
1755-553: The cause of the accident was rectified or, more commonly, through the Koata Strategy. The "Koata strategy" was a coping strategy that the Basotho miners used in order to commence work despite the fear and anxiety that they experienced. It was characterised by abusiveness and unruliness. Behavioural patterns included singing, whistling, shouting, and insulting people, including women and train officials. This form of behaviour
1820-528: 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
1885-473: 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
1950-460: 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
2015-490: 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
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2080-437: 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
2145-460: 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
2210-441: 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
2275-477: 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
2340-458: 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),
2405-692: The height of the country's Civil War in the early to mid-nineties. Workers of the Steinmetz Diamond Group took over three years to produce the classic pear form. The cutting was done using lasers. It was first displayed in October 1999 as the centerpiece of the De Beers Millennium diamond collection. The collection also includes eleven blue diamonds totaling 118 carats (23.6 g) and The Heart of Eternity . They were displayed at London's Millennium Dome over 2000. There
2470-458: 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
2535-490: The intense heat in the summer, also took their toll. On 13 March 1888 the leaders of the various mines decided to amalgamate the separate diggings into one mine under De Beers Consolidated Mines Limited , with life governors such as Cecil John Rhodes , Alfred Beit , and Barney Barnato . This huge company further worked on the Big Hole until it came to the depth of 215 metres, with a surface area of about 17 hectares and perimeter of 1.6 kilometres. By 14 August 1914, when work on
2600-406: The manner in which the dead were treated. With mining operations closed down in 1914, the open pit became an attraction for visitors to the city. By the 1960s, a gathering together of relics of Kimberley's early days, including old buildings and sundry memorabilia, began to be organised into a formal museum and tourist attraction. In 1965 De Beers appointed Basil Humphreys as museum consultant, with
2665-655: The mine ceased, over 22 million tons of rock had been excavated, yielding 3,000 kilograms (14,504,566 carats) of diamonds. It was considered the largest hand-dug excavation on earth. By 2005, however, it was reported that a researcher had re-examined mine records and found that the hand-dug portions of the Jagersfontein and Bultfontein diamond mines, also in South Africa, may have been deeper and/or larger in excavated volume. There are other, larger, mine excavations, but these were created using earth-moving equipment rather than manual labour. The discovery of diamonds led to
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2730-547: 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
2795-491: The museum being substantially upgraded as an open-air representation of early Kimberley. These upgrades included streetscapes, dioramas, and exhibits of mining technology and transport. There was an official opening during the Kimberley centenary celebrations in 1971. One of the attractions was the Diamond Hall. The Mine Museum went through subsequent upgrades. Between 2002 and 2005 De Beers invested R50 million in developing
2860-524: 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
2925-589: 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
2990-497: 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
3055-466: 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
3120-546: 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 '
3185-558: 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 ,
3250-479: 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
3315-496: The underground and the surface. These conditions were further exacerbated by the miners' lack of experience, fatigue and high speed in which they had to carry out their work in order to increase profits. Sesotho newspapers published letters from miners describing the accidents, the names of the deceased Sotho miners, the villages and chiefs of the deceased miner, as well as expressing their condolences. Miners responded to mine accidents by strike action, in which they refused to work until
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#17327906748223380-550: 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
3445-444: 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
3510-535: 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'
3575-555: Was an attempt on 7 November 2000 to steal the collection (see Millennium Dome raid ), but the Metropolitan Police discovered the plot and arrested the robbers before their escape. Crime journalist Kris Hollington wrote a book called Diamond Geezers ( ISBN 1843171228 ) about the attempted theft. The book also features a detailed history of the Millennium Star. The largest cut white (D) diamond by weight
3640-481: 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
3705-581: 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
3770-527: 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
3835-574: 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
3900-409: Was going to my mother quietly: "Mother, take a letter for me, I am going to DeBeers (mines). Scarify me with qetella pele ['finish first' medicine], So that these multitudes should follow my lead." Other men's villages are not entered freely, Lad, the day I'm going, I mount to ride away, A woman of witchcraft was already hard at work; I saw her early going to the graveyard, She puts on
3965-403: 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
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#17327906748224030-433: Was mostly caused by tuberculosis , pneumonia , scurvy , diarrhoea , syphilis , and mining accidents . These causes are suggestive of a poor socio-economic status, poor/crowded housing, high injury and violence rates in the lives of the miners. The majority of mine accidents were caused by rockfalls and rockbursts , trucks and tramways, explosives, and the cages and ships that transported workers and ore between
4095-449: Was reinforced by pre-existing stereotypes and was passed down from generation to generation. Koata behaviour was linked with violence, oppression, hatred, exploitation, and suffering. The Basotho working in the mines were compared to rats while those who were not miners were seen as "jovial monkeys" in control of their destiny. Basotho men associated mining in the Big Hole with death and danger. Death does not choose; famine chooses. I
4160-419: 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
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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