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Author: Admin | 2025-04-28
De Beers: The “reformed” diamond distributor...When thinking of diamonds, most people typically conjure up images of the sparkling gemstones. However, many immediately think of well-known diamond brands and distributors, like the indomitable De Beers.With slogans like “Diamonds are forever”, De Beers has certainly garnered some attention over the last century. In fact, it’s one of the largest diamond companies to ever exist, boasting influence in most areas of diamond distribution.When it comes to De Beers, many shoppers cringe at the company’s historically unethical actions of diamond mining and production. However, did you know De Beers has recently taken a stand to promote sustainable and ethical business practices?🌳 Let’s look at how this diamond giant is shaking up the world of diamond mining and distribution for a more future-focused initiative.De Beers: From a diamond syndicate to a diversified businessUnderstanding the origin of “De Beers”The founding of the De Beers brandA De Beers monopoly is bornThe Oppenheimer eraEnding the De Beers monopolyDe Beers' commitment to ethical and sustainable practicesThe Kimberley ProcessTracr: Blockchain diamond chain of custodyDe Beers lab-grown diamondsBuilding Forever 2030 GoalsMore initiatives in the worksChanging the face of diamond distribution one initiative at a timeDe Beers: From a diamond syndicate to a diversified businessBefore we discuss De Beers’ efforts to promote sustainable and ethical business, let’s look at the history behind this massive brand that’s heavily influenced the diamond industry. While it’s not always pretty, understanding where De Beers began is paramount to appreciating their efforts today.Understanding the origin of “De Beers”The name “De Beers” dates back to the 1860s, and it’s a callback to brothers Diederik Arnoldus De Beer and Johannes Nicolaas De Beer. These Dutch settlers owned farmland in South Africa, which they would soon learn was rich with diamonds.Upon discovery of diamonds on their land, the brothers sold their farm to a merchant at the behest of the British government. Alfred Johnson Ebden bought their land for £6,600, and the site would soon become the location of two major diamond mines: the “Big Hole” and De Beers diamond mine, which was named in honor of the original landowners.The founding of the De Beers brandThe story of the De Beers company begins in 1888, when Cecil Rhodes—a British businessman—made a pretty penny renting water pumps to diamond miners during the diamond rush. As a result, he decided to reinvest his money in the industry and buy up the claims of small mining operations to consolidate their efforts.With the right funding, he was able to start his own mining operation through consolidation, and he joined his mines with those of Barney Barnato to form De Beers Consolidated Mines. Thus, the illustrious brand was born, and before long, De Beers Consolidated Mines, Ltd. had control of all diamond mining, production, and distribution in South Africa!A De Beers monopoly is bornDe Beers Consolidated Mines, Ltd. soon became a name known around the globe. Londoners knew it as the Diamond Trading Company, but industry leaders in Israel referred to the company as “The
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