De Beers Diamond Jewelers’ Essay

756 Words Mar 19th, 2013 4 Pages
1.0 INTRODUCTION
De Beers Diamond Jewelers’ is the quintessential diamond jeweler, giving substance to style, bringing together the diamond’s dualities of science and poetry, melding its rich history and long traditions with contemporary creativity and cutting-edge craftsmanship. The diamond is a sparkling, celebratory symbol of continuity and eternity, of reassurance and hope for the future, and De Beers brings this beautiful symmetry into the light with its classically elegant jewelers.
For a century and more, De Beers’ diamonds had been set, anonymously, into the creations of master jewelers around the world. Now the finest natural diamonds, both rough and polished, have a home of their own. Fusing the essential timelessness of the
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The Second Boer War proved to be a challenging time for the company. Kimberley was besieged as soon as war broke out, thereby threatening 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,[13] Rhodes placed the full resources of the company at the disposal of the defenders, manufacturing shells, defenses, an armored train and a gun named Long Cecil in the company workshops.
During World War I, the Cullinan Mine was finally absorbed into De Beers. When Rhodes died in 1902, De Beers controlled 90% of the world's diamond production. Ernest Oppenheimer took over the chairmanship of the company in 1927, after buying a seat on the board a year earlier. 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 the country's war effort during World War II.
De Beers is well known for its monopolistic practices throughout the 20th century, whereby it used its dominant position to manipulate the international diamond market. The company used several

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