Daimond Are Forever
Diamonds are Forever–Commanded by a Cartel
"Diamonds are forever," nearly everyone has heard of this numerously displayed slogan in a wide variety of media, but many have failed to identify from where diamonds come, the mining techniques, and the large responsibility required to produce them. Based in South Africa, the diamond company De Beers Consolidated Mines Ltd. has created the famous slogan that is seen and heard by millions of consumers. The diamond cartel currently owns hundreds of subsidiaries which enable them to maintain a large market share. However, because of its past marketing methods and the civil wars that destroyed Angola, De Beers should not be allowed to distribute its diamonds to the world unless its practices are radically altered.
De Beers is a company with a long line of history. The cartel was started out of a battle for control of newly discovered areas rich in diamonds in South Africa. De Beers was formed about one hundred and ten years ago and was incorporated by founder Cecil Rhodes (De Beers History Online). In 1859, there were reports of diamonds discovered on the Vaal River in South Africa, but no one had evidence relating to these reports until Erasmus Jacob found Eureka (21.25 carats) on the Orange River (De Beers History Online). Erasmus Jacobs and Barney Barnato, a diamond seller fought against each other to gain exclusive control of the sites until April when they ceased fighting and partnered to form De Beers Consolidated Mines Ltd (De Beers History Online). This partnership enabled the company to dominate the volatile diamond market that it still controls today.
De Beers has arguably become one of the most powerful mining companies not because of superior products, but because of monopolistic values. On the path to success, the diamond cartel gained wealth from buying surplus diamonds, and mines from unstable countries: Namibia, Botswana, Zambia, Angola, Sierra Leone, and the newly established...
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