The Modern Diamond Industry

Diamond History (cont.)

"A Diamond is Forever" – Since 1948 the slogan of DeBeers Diamonds.

At the conflux of the Orange and Vaal Rivers in South Africa in 1867, the 21.24-carat 'Eureka' diamond was discovered. Shortly after that, the 83.50-carat 'Star of Africa' was found in the same area. That opened the floodgates and the modern era of the diamond industry began.

By 1880, Englishmen Cecil Rhodes, colonizer of Rhodesia, and Charles Rudd, had founded De Beers Diamonds - named after the de Beers brothers on whose farm the diamonds were discovered. By shrewd manipulation and outright purchase, the De Beers Consolidated Mining Company pretty much cornered the South African diamond industry.

In 1929, Ernest Oppenheimer gained control of De Beers and with it, control of the principal diamond fields in South Africa. In 1939, it was the De Beers company that introduced the quality criteria to set standards of control within the industry. These standards, known as the Four Cs: Cut, Color, Carat, and Clarity - are still in place today. Oppenheimer's son, Harry, continued in his footsteps as do his grandchildren today.

Next: One Million Carats

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