Diamonds : An Artifact Of Love And Commitment Between Two Lovers

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Diamonds! Often used as a beautiful, symbol of love and commitment between two lovers. These are used as a representation of taking that final, everlasting step into eternal happiness with one another before committing to marriage. Diamonds have been a valued and highly revered commodity to consumers all over the world. Unfortunately there is a dark, sordid history and a lot of bloodshed that is attached to these pretty, little rocks. The first known discovery of this natural resource was in India and was named as "indrayudha" meaning "Indra 's weapon." This was around 4th century BC and apparently it was used as part of a weapon and a valued material. Later, diamonds became an accessory for European nobles around 13th century BC. By…show more content…
THE BLOOD DIAMOND INDUSTRY IN AFRICA Before a diamond leaves a jewelry shop, it goes through five stages. First, it is mined and purchased. De Beers Group of Companies is the leading company that does this. It is the leading company in diamond exploration, diamond mining, diamond retail, diamond trading and industrial diamond manufacturing sectors. Second stage involves the sorting of the stones into its different sizes and qualities. These rough diamonds go through the diamond centers in Antwerp, London, Lucerne, New York, Tel Aviv, Johannesburg, Bombay and Dubai. At the third stage, these stones are cut and polished. Then, after which, these diamonds are manufactured (fourth stage) and marketed (fifth stage). Goreux (2001), summarizes the profit in the diamond industry; “The diamond industry provides significant revenues for market participants. In 1999, rough gem diamonds purchased at mine gate were valued by the Mining Journal at $7.3 billion. Diamonds sorted and polished were sold to jewelers for $14 billion. The value added by jewelers in the form of labor, gold, platinum and stones other than diamonds was estimated at $14 billion, bringing total production costs to some $28 billion. With a 100 percent retail margin, the value paid by consumers for diamond jewelry was estimated at $56 billion, of which almost half was sold in the United States. Most of the profit was made at the final stage in marketing the jewelry. An

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