De Beers Diamonds Essay

The diamond cartel has been in existence for over a hundred years. (Spar: 2006) It has faced many issues in order to survive and prosper. (Kretschmer: 1998) Rhodes’ method was sufficient during the early 1900s. (Spar:2006) By 1930, the price of diamonds had fallen and the war was looming; Europeans were not interested in buying diamonds. (Epstein: 1982) It changed ownership to the Oppenheimers around about the Great Depression. Thus began the exploitive marketing tactics of the 20th century. (Epstein: 1982)

A diamond, it is a precious stone more value than gold and silver not only in society today but has been since its discovery. Diamonds became very much famous by the development in the supply as well as the advanced technology. Technology helped enabled the Diamond cutting, shaping, polishing as well as finishing. The name diamond comes from the Greek word, adamas meaning unconquerable. This is the perfect name because diamonds are made of pure carbon, and are the hardest natural substance known to man according to De Beers. Diamonds have long been a sign of wealth and fortune. Kings and queens have worn these forms of concentrated carbon and even more people have wished they could own and wear them. These gems come in a variety of shades and can be transparent, truculent white, yellow, green, blue, or brown. De Beers is a company that dominates the history of the diamond industry. Diamonds had become the precious luxury goods and De Beers was the company which could market these luxury goods. To understand the value of these stones, and ultimately their role in wars and other aspects in life, it helps to first understand their origins, how they are made and their impact on society. All these factors combined make diamonds particularly vulnerable to exploitation by armed rebel movements mining and trading diamonds in Africa and many other countries around the world.

Also, there needs to be a more defined definition of a blood diamond (“War on Blood Diamond Trade Loses its Lustre in Age of Digital”). The Central African Republic fails to realize that the diamonds being bought come from instances of executions, child labor, as well as looting (“Companies must Not Profit from Blood Diamonds”). Obviously, Africa is rich in minerals, which is its curse (Ainger et al.367: 9-27). Consequently, there has been 50 wars, fighting for control of resources. Political, social, and economical factors matter in these resource wars (Ainger, et al.367: 9-27). Recently, the Kimberly process fails to uphold in central Africa, Cameroon. As a result, Cameroon is flooding with conflict diamonds because of mediocre leadership along with corruption (“Conflict Diamonds from CAR Entering International Markets Via Cameroon”). This may be the effect after the African Republic was internationally embargoed in 2013 (“Conflict Diamonds from CAR Entering International Markets Via Cameroon”). Therefore, “As the Kimberley Process visits Cameroon, it must take action immediately and demonstrate to companies, retailers-and most importantly to consumers-that it is able to stop the flow of conflict diamonds," Offah Obale. Presently, the diamond industry is in a bit of a mix as the Kimberly process is expected to help countries receive clean diamonds in order to restore international market relationships ("War on Blood Diamond Trade Loses its Lustre in Age of Digital"). Now, it is known that the common life-span is estimated to be 34 years old in Africa, Sierra Leone. Also, “We have always maintained that the conflict is not about ideology, tribal or regional difference... The root of the conflict is and remains diamonds” says UN ambassador of Sierra Leone, Ibrahim Kamara. At the present time, there is a cease fire in the Republic of Congo since

The De Beers Group of Companies established itself in the diamond industry in the late 1800’s and it was only a matter of time until De Beers owned virtually every diamond mine in South Africa. Diamond distributors joined up with De Beers because of similar interests: they wanted to create a scarcity of diamonds, so that high prices would follow. Eventually, De Beers would establish exclusive contracts with suppliers and buyers, making it impossible to deal with diamonds outside of De Beers. For the remainder of the 20th century, the business model was the same: A subsidiary of De Beers would buy the diamonds and De Beers would determine the amount of diamonds they wanted to sell, and at what prices. In turn, De Beers funneled all of the

The story of these infamous diamonds all started with a fifteen year old who found a diamond in his father 's arm. The diamond business started in 1935 when “De Beers” took all control over dining prospects in Sierra Leone. De Beers are a group of companies has a main role in the exploration of diamonds, as well as diamond mining, diamond retail, diamond trading, and industrial diamond manufacturing sectors.This group was founded in 1888, and they are responsible for the problems Sierra Leone is facing today. These diamonds can be found in volcanic pipes. Diamonds are a pure form of carbon in a transparent state. Diamonds have always been a sign of wealth. Historically kings and queens were known for wearing these. Over time many people began lusting over them.

government of a country" (Campbell 127). "With this definition of "conflict diamonds", DeBeers has no only proved itself with linguistic maneuverability but trade maneuverability as well. It is no secret that "the industry, after all, is bigger than the company alone and in fact is critical to the economies of at least four nations." (Campbell 127) DeBeers has taken steps to ensure that some of their diamonds were conflict free with the demand for action so apparent. DeBeers first step in the right direction resulted in a devastating blow to earnings, a net loss

Have you ever glanced at your ring finger and admired the beautiful diamond on it? Now have you ever wondered where that diamond came from or how many lives were affected just to get it? Those are the questions you should ask yourself the next time you visit your local jewelry store for a visit. People worldwide should make an effort to stop buying conflict diamonds. They are funding wars in Africa everyday. Workers working in the mining business are in a danger zone. Innocent men, women, and children are getting caught in between the conflict and are being forced to work. If people would stop buying conflict diamonds from conflict areas, Africa would be a better and more productive place.

During the conflict in Sierra Leone it captured the world’s attention because of the extremely brutal conflict in the 1990s. People have guessed that conflict diamonds represents 4% of the world’s diamond production so far. But since most of the diamonds were used to fund Africa armies it would have reduced down to lower than 1%. The global diamond industry made it clear to the international community that they will have no tolerance towards conflict diamonds due to they can cause civil wars and mass murder. While diamonds are still used to fund conflict the problem was never the diamonds its how the rebels use them and take advantage of them to win the war that they have been facing.Today about 99% of diamonds are from conflict or traded

Diamonds are often associated with strength and permanence. However, the permanent beauty is not all there is as the damage done to the environment is severe and sometimes just as permanent. According to The Greener Diamond, the average size of the diamonds on engagement rings has increased from 0.30ct in 1920 to 1.25ct in today’s standards showing that the Canadian demand for larger diamonds has gone up. It was stated that for every carat of diamond mined, 1 750 tonnes of earth is removed through the use of machinery. Along with that, another 20 tonnes of mined waste are then leftover to great a gold ring for the diamond. Mined ores are injected with Cyanide, a poison, in order to dissolve the gold and silver from the rest of the ore and the

It was the marketing campaign of the De Beers Group that have made diamonds as popular as they are now.

One pattern of the global diamond trade is the organisational structure, consisting of locational, economic and political patterns.

India is deemed to be the hub of the global jewellery market because of its low costs and availability of high-skilled labour. India is the world’s largest cutting and polishing centre for diamonds, with the cutting and polishing industry being well supported by government policies. Moreover, India exports 95 per cent of the world’s diamonds, as per statistics from the Gems and Jewellery Export promotion Council (GJEPC). The industry is projected to generate up to US$ 35 billion of revenue from exports in 2015.

Literature: The US is still the sale growth engine of the global diamond jewelry market. The growth of retail sales was measured for 3% at constant exchange rates but 2% decline in terms of dollar terms. Dee Beers the major player have curtailed the production in 2015 and hoping for a new outlook to help the retailers and

Color. Clarity. Cut. Carat Weight: These four words are what jewelers in the industry use to determine the monetary value of a diamond. However in 1947 De Beers found a way to not only boost their sales but also make a psychological necessity out of this sparkly stone, and it all began with four vastly different words, “A Diamond Is Forever” (Frances Garety), and accompanied by phrases such as “Isn’t two months’ salary a small price to pay for something that lasts forever (N.W. Ayers)?

As people’s consumption powers increases with rapidly growth on economic development, and also their preferences on luxurious products like jewelleries increase, their demand on jewelleries rises at a dramatic rate. Besides, jewellery is a competitive industry in Hong Kong, knowing our competitor’s strategies are essential.