de-beers-diamonds.jpg

The De Beers Group of Companies is one of the most prominent organisations worldwide in the mining and trading of diamonds. Cecil Rhodes founded the company in 1888, and it was once the only one in the diamond market with a monopoly and a monopsony. Even in the present day, they maintain control over 35% of the diamond business in relation to the production of rough diamonds worldwide. They engage in open-pit mining, large-scale alluvial mining, mining along the coast, and mining in the deep sea.

The company has been around practically since the beginning of time, and their tagline proclaims that "A Diamond is Forever." Their headquarters are in Luxembourg City, Luxembourg. Diederik Arnoldus De Beer (December 25, 1825–1878) and Johannes Nicolaas De Beer, two brothers who immigrated to South Africa from the Netherlands, are credited with founding the De Beers diamond company. The name "De Beers" comes from their surnames (December 6, 1830-June 20, 1883). Their privately owned estate in South Africa, which they called Vooruitzicht (Dutch for "Outlook"), piqued the interest of the British government, and on July 31, 1871, they sold it to the British.

 

Cecil Rhodes, the creator of de Beers, It was the location of two profitable mines, the Big Hole and the De Beers Mine, respectively. At the height of the Diamond Rush, Cecil Rhodes, the company's founder, made his fortune by renting out water pumps. Soon after, he began growing his business, and the result of his partnership with Barney Barnato was the formation of De Beers Consolidated Mines. De Beers Operationsceo bruce cleaver The following are examples of how the De Beers Company conducts some of its business:

Debswana is the name of a mining business in Botswana that is a joint venture between the government of Botswana and De Beers. The partnership is split 50/50.

Namdeb is the name of a mining business in Namibia that is a joint venture between the government of Namibia and De Beers. The partnership is split 50/50.

The De Beers Consolidated Mines are the company's original mines, located in South Africa. De Beers owns 74% of the mines, and Ponahalo Investments owns 26%.The Victor Mine is the only mine located outside of Africa and the only mine in all of Ontario, Canada, that is entirely underground. However, production came to a halt at this location in 2015.

Beers' Trajectory Through Space and Time

Since they first began their business, the De Beers Company has had steady expansion, which can be seen in their growth chart. Even though there has been a very tiny decline in sales over the past few years, the company has maintained a consistent rate of advancement despite having over 20,000 employees.

The DeBeers Company is in the business of selling diamond products as well as providing marketing and promotion services for diamonds. Rings, Watches, Necklaces, Earrings, Bracelets, and Other Types of Men's Jewelry are Just Some of the Items That They Sell.

In addition to these things, they also make and sell different services.

In his letter, the CEO of the corporation emphasised the significance of symbols and the importance of maintaining their integrity. There have been annual reports that have been issued that place a significant amount of emphasis on the concept of corporate social responsibility.

 

They place a strong emphasis on the ability to conduct successful business in an ethical manner, which is particularly significant for a huge firm that plays a vital role in establishing standards that thousands of other businesses should strive to meet. The importance of ethics, morals, community development, and giving back to society, particularly in some of the areas in which they operate, notably in the form of environmental and educational activities, is something that cannot be overstated. Additionally, the amount of employment that they provide for people in the community is something that should be taken into consideration.

Ls banner.jpg