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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.
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
The premises of the supposedly independent Diamond Board for South West Africa were provided by De Beers; All of the Board's agents were De Beers' employees; The entire costs of running the Board were met by De Beers as a tax deductible expense; Stanley Jackson, the Diamond Board Secretary, was also Secretary to Consolidated Diamond Mines. [6]
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 ...
A De Beers jewelry store in Hong Kong, China. (Lam Yik—Bloomberg via Getty Images) Diamond giant De Beers has seen its stockpile reach $2 billion , the biggest since the 2008 financial crisis ...
Between 2002 and 2005 De Beers invested R50 million in developing the Big Hole into a tourism facility, based on the idea of creating "a lasting legacy for the people of Kimberley". The new facility, the Big Hole Kimberley, and its theme of "Diamonds and Destiny", was expected to double visitor numbers to the Big Hole. [13] [14]
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.
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]