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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.
In 2000, the De Beers business model changed [45] because of factors such as the decision by producers in Canada and Australia to distribute diamonds outside the De Beers channel, [19] [44] as well as increasingly negative publicity surrounding blood diamonds, which forced De Beers to protect its image by limiting sales to its own mined ...
The article revealed that when, "asked about the anomalies in reported trade figures for diamonds under the Kimberley Process (K.P.) in South Africa, where De Beers is a dominant player, [Lynette] Gould, [head of media relations for De Beers], responded, "The primary purpose of the K.P. process (or the issuing of the certificates at least) is ...
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 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 ...
The second was an agreement originally dated 20 April 1892 between BSAC and De Beers. That document essentially memorialised existing indebtedness of BSAC to De Beers and formalised those obligations into mortgage debentures, and increased the amount of the credit advanced to a total of £112,000. Subsequent amendments to the agreement ...
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 ...
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.