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The De Beers diamonds antitrust class action sought to end an alleged 60-year conspiracy to fix the price of rough diamonds in the U.S. by the De Beers group of companies. The litigation includes several cases including Hopkins v. De Beers Centenary A.G., et al., No. CGC-04-432954, which commenced on July 24, 2004, and Sullivan v.
Blood diamonds (also called conflict diamonds, brown diamonds, hot diamonds, or red diamonds) are diamonds mined in a war zone and sold to finance an insurgency, an invading army's war efforts, terrorism, or a warlord's activity. The term is used to highlight the negative consequences of the diamond trade in certain areas, or to label an ...
De Beers Ventures. De Beers Ventures was established by De Beers Group in June 2017 to consider minority stake investments in start-ups and growth companies that could be of benefit to De Beers Group or the broader diamond sector. [83] [84] The International Institute of Diamond Grading & Research
De Beers tried its hand at growing a lab-grown diamond jewelry business for six years before ditching it earlier this year. But a segment of that failed attempt has flourished—and it has nothing ...
Waning demand for natural diamonds has helped lift De Beers's inventory to $2 billion, the most since the 2008 financial crash, according to the Financial Times. In fact, the value of the diamond ...
Several international supermodels, including Iman, Lily Cole and Erin O'Connor, who were previously involved with advertising for the companies' diamonds, have backed down after realizing the consequences raised by this scandal, and now support the campaign. [20] De Beers sold its Botswana mine to Gem Diamonds in 2007. [21]
The De Beers diamond exhibition had many jewels on display, including the Millennium Star, a flawless 203.04-carat (40.608 g) gem with an estimated worth of £200 million (equivalent to £425 million in 2023 [1]) and considered one of the most perfect gems in the world. Also on display were priceless blue diamonds. [2]
De Beers has accumulated the biggest stockpile of diamonds since 2008, the Financial Times reported. Weak demand and rising competition from lab-grown products are weighing on the diamond titan.