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A Brief History of De Beers. March 20, 2019 By Paul Zimnisky, CFA paul@paulzimnisky. De Beers market share stood at over 80% as recently as the late-1990's however a series of events over the next 25 years led to the erosion of perhaps the most famous monopoly in modern history. Today, De Beers no longer has the grasp it …
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Diamonds that are stowed away in safe-deposit boxes, or bequeathed to grandchildren, don't. From 1939 to 1979, De Beers's wholesale diamond sales in the United States increased from $23 ...
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De Beers. South Africa's biggest diamond mine, Venetia, is located in the Northern Transvaal within Limpopo Province in the north-east part of the country. The mine is owned by De Beers, which is a subsidiary of Anglo American. A reconnaissance sampling programme was carried out by De Beers in 1969 to detect the source of alluvial diamonds.
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They were permitted only to say the diamonds came from one of the four countries where De Beers mines: Botswana, South Africa, Namibia or Canada. DTC, or Diamond Trading Co., was the name formerly used for De Beers' sales and marketing arm. The DTC was established in 1934 but the name was retired, so to speak, a few years …
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The urban centre that resulted is now known as Kimberley. Two diamond mines dug there (no longer in operation) were at one time the world's most productive. Cecil Rhodes bought a claim to the De Beers mine in 1871, and eventually bought claims to most of southern Africa's diamond mines. To keep prices high and demand steady, he formed the ...
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Overall, DeBeers's CSO had to purchase $4.8 billion of rough diamonds in 1992, while being able to sell only $3.5 billion. This huge pileup of inventory could break the cartel price; to stave off such a perceived disaster, DeBeers ordered cartel members to cut back 2.5% on the diamonds they had already contracted to market through the cartel.
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De Beers Consolidated Mines Cnr. Crownwood Road and Diamond Drive Theta/Booysens Reserve Private Bag X01, Southdale 2193 Johannesburg South Africa Tel: +27 (0) 11 374 7000. UAE See Map De Beers DMCC Office 4D ALMAS TOWER Jumeirah Lake ...
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De Beers, a unit of Anglo American AAL.L, completed the sale of its Kimberley mines and assets two years ago as it focuses on its $2 billion Venetia project in South Africa's Limpopo province.
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Post-1990s – De Beers' operating model effectively evolved from supply chain control to vertical integration. Financial performance in the 2000s was strong as a result, with sales turnover growing at 4% CAGR from 2001 to 2011 [7]. To this day, the company (and other subsidiaries of Anglo American) face pressure to change business …
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The De Beers Kimberlite Pipe – A Historic South African Diamond Mine, C.R. Clement, J.W. Harris, D.N. Robinson, and J.B. Hawthorne, "Mineral Deposits of South Africa", pp. 2193-2214 (1986). The authors describe the one of the main mines near Kimberley which, since its discovery in 1871, has produced approximately 25 million …
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The mine is a joint venture between De Beers Group (51% - the Operator) and Mountain Province Diamonds (49%). Additional resources discovered in 2018 resulted in the life of mine extension to 2030. The open-pit mine will comprise three pits over its current 14-year life of mine. Resource evaluation work continues on a previously unknown ...
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De Beers was founded by one of the most controversial figures in modern history, the industrialist turned imperialist Cecil Rhodes. Rhodes began by renting water pumps to miners before investing in diamond mining operations directly. One of the fields he purchased was owned by a pair of brothers called de Beer and in 1880 he bought the …
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Commissioned in August 1992, the Venetia mine accounts for approximately 40% of South Africa's annual diamond production. The mine has a surface area of 3.8ha and employs approximately 4,365 people. It …
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Building Forever 2030 Goals . Leading Ethical Practices Across Industry: 2030 Sustainability Goals . Partnering for Thriving Communities: 2030 Sustainability Goals
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RHODES AND CREATION OF DEBEERS FROM 1870. The Kimberly mines were the foundation for racial segregation and black labor exploitation in South Africa. Many mine owners were unhappy with the limited pool of labor and the increase in wages as demand was significantly higher than the market could supply. In 1872, they were 1600 diamond …
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De Beers' near-term SBTi-validated targets are to reduce absolute Scope 1 and Scope 2 emissions 42% by 2030 and to reduce absolute Scope 3 emissions 25% within the same timeframe. In setting the targets across all three scopes, De Beers is extending its climate ambition over and above its existing commitment to be carbon neutral across …
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Current De Beers exploration projects are located in the Democratic Republic of Congo, India, Angola, Canada, Botswana, Namibia and South Africa. Through its subsidiary, Debswana, the company started a $500 million expansion project (Cut-8) at Jwaneng Mine at an estimated cost of $3 billion.
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Summary. The study deals with the strategic analysis of DeBeers and its outcome during the tenure 2008 to 2009. The author of the study will also conduct a PESTLE analysis which will highlight the impact of the …
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Venetia mine opens in South Africa. It will become South Africa's largest diamond mine. 1988. 1988. To celebrate our 100th year we unveil the 273.85 carat Centenary diamond. 1987. ... The De Beers mine is discovered in May, and the Kimberley mine in July. The latter will become the world's richest mine for nearly a century. 1869.
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A swimming pool lies empty in the town of Kleinzee in the Namaqualand region of South Africa. The town was once the property of the De Beers diamond company. In its heyday, it was a thriving settlement of 4,000 people with about 30 recreational clubs. After closing down its mines in the region, De Beers sold off the …
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De Beers S.A., South African company that is the world's largest producer and distributor of diamonds. Through its many subsidiaries and brands, De Beers participates in most facets of the diamond …
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When it opened, Voorspoed became the first major new diamond mine in South Africa in almost two decades. It's the first of a new generation of 21st century mines that meet the …
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The average realised price rose by 10% to $146/ct (2020: $133/ct), primarily as a result of positive market sentiment which gave rise to an 11% strengthening of the average rough price index. Revenue also increased within De Beers' other businesses, including Element Six. Underlying EBITDA increased to $1,100 million (2020: $417 …
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Anglo American's De Beers is in talks with the Botswana government to extend mining rights that expire in 2029, as well as a 2011 diamond sales agreement that expires in June this year.
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In July, De Beers started production from the new $2.3 billion underground mine at Venetia after stopping 30-year open pit mining operations in December 2022. De Beers says the Venetia underground ...
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I started working at Debeers Venetia Mine on 15 April 1991 until 30 September 2017 and during this period I worked as a Plant operator, Control Operator …
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In 1888, De Beers Consolidated Mines, Ltd. was formed, creating a monopoly on all production and distribution of diamonds coming out of South Africa Flickr
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At De Beers Group, we're focused on more than just diamonds. We're driven by a desire to make life brilliant for our people, our customers and those living in the communities …
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In the last year, De Beers has invested heavily in upgrading this equipment. In November 2017, the miner announced it had ordered a new $142m ship from Norwegian Kleven Verft AS, which it said would be the largest custom-built diamond mining vessel in world. And in August this year, De Beers signed an agreement with Wärtsilä to replace ...
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De Beers was founded in 1888 and survived two world wars, the great Depression and the uncertainty of consumer demand. It has assets of $21 billion and controls an empire whose reach extended from the great diamond mines of South Africa, Australia, and Siberia and the sorting rooms of London, Antwerp and Tel Aviv.
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17 May 2023. De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the fourth sales cycle of 2023. The provisional rough diamond sales figure quoted for Cycle 4 represents the expected sales value for the period 1 and 16 May and remains subject to adjustment based on final completed sales.
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Production guidance (1) for 2023 is unchanged at 30–33 million carats ( basis), subject to trading conditions. Unit cost guidance for 2023 is revised to c.$75/carat (3) (previously c.$80/carat), reflecting the weaker South African rand. 1 De Beers Group production is on a basis, except for the Gahcho Kué joint operation which is on ...
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De Beers Group has announced an initiative to consolidate its mining assets in South Africa and Canada into one business called De Beers Group Managed Operations. The new business will streamline …
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From Wikipedia: In 2004, De Beers pleaded guilty and paid a $10 million fine to the United States Department of Justice to settle a 1994 charge that De Beers had conspired with General Electric to fix the price of industrial diamonds (the diamonds used for industrial purposes such as abrasives on drills). General Electric had been to court to ...
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