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The birth of a new diamond industry

The man behind the birth of diamonds from De Beers of Cecil John Rhodes a simple person with vision for business. He was involved for the first time in the sale of water to the thirsty miners working in mines, but later followed the very mines.Cecil went to South Africa after that his brother was beaten by the diamond rush, but Cecil had plans much more than being a common diamond hunter.

Cecil travel first in South Africa at the age of 17 (in year 1870), where the first diamonds were mined. He was financially independent by age 19. And for about eight years after this first trip, Cecil switch between South Africa and England, keeping an eye on the progress of the diamond mining and completed his studies at Oxford. He said he had made a small beginning, even as they pursue academics.

During the time he graduated Oxford, Cecil has a passion for the study operations, understand the dynamics, prices, supply and demand and the players in the game realized that the only how he could control the fluctuation price was to control supply and demand and could not do if he controlled the production.

About seventeen years after his first visit Rhodes had complete control of what is now known as De Beers Mines. The following year that followed was turbulent. Other players in the market as Central and another company Kimberly French production had important games. Although it played an important role in both operations, the central control of Kimberly slept with Barney Barnato.

Since the French operation was relatively lower than the center of Kimberly, Rhodes tried to make a bid for the company. This threatened as expected Barnato strategy. He tried to outbid Cecil Rhodes, Cecil, but the venture partners De Beers managed to convince Barnato. Now Cecil mines owned by De Beers and had control total on French society as well. The next step should be a majority stake in Kimberly Central.

With some Central Kimberly actions to initiate, Cecil advised its brokers to begin picking up market share independently. To protect their own turf Barnato had to make a bee line for these actions accurately. A In turn, stock prices soared.

On the other hand, diamond production was much higher than market demand and consequently the price of diamonds began to fall. Economy whole situation was confusing. Despite all resistance, Cecil was able to get 60% of the shares of Kimberly Central business by Company Kimberly control center as well.

A year later, in 1888, De Beers Consolidated Mines Ltd. was formed. The company was named after the owner of the property where the diamond rush for the first time. This new company is fully owned by De Beers mines, 75% of the mines and the central authority of Kimberly and control over Dutoitspan Bultfontein.

The company reported consolidated earnings over £ 300 000, which would translate into $ 1.5 million today.

A set of twelve years and in 1900, De Beers controls more than 90 percent of world diamond production. With this kind of monopoly on the production of rough diamonds and products, control of Cecil guaranteed farm prices by managing production levels.

Cecil Rhodes was a provocative person. He believed that diamonds could be the power in their hands. He had a dream to see Africa as a common consolidated under British rule. Had great plans for the country, including the telegraph lines and railway lines. With this as its goal, Cecilia also entered politics and was elected first minister in 1890. It served for six years before giving it up.

While Rhodes never lived to see his dream come true for South Africa (died in 1902 the age of 48), managed to create the foundation of De Beers, the scholarship of Oxford and other initiatives. Today, with an area of South Africa on behalf of and is remembered by all students at the University of Oxford who benefit from the scholarship he left behind.

With the institutionalization of the market for diamonds, sudden fluctuation of the diamond market has declined. By creating a watchdog in mining production, Cecil was able to create a system management of supply and demand. We thank Cecil Rhodes for the stability and popularity of the diamond industry we see today.

Reference: GIA material study.

About the Author

Mithun Rao holds a professional degree in gemology and jewelry design from Mumbai and has spent more than 10 years in the industry. He manages his own jewelry business and takes out the free time to write and maintain his site gehnabazaar.com. He has authored many articles like how are diamonds formed , how to identify synthetic diamonds etc.

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