Monopoly paper / DeBeers monopol
mine. Shortly after founding the company, De Beers already controlled almost all the world's
diamond production, either they bought out new producers or entered into agreements with
local governments. They had diamonds mines in Australia, India, Russia and some of the
African countries. In 1927 the chairmanship of the company was taken over by the Jewish
businessman Ernest Oppenheimer, whose successors have been operating as chairmen of the
group till 2011, when they sold their 40% stake to Anglo America. De Beers view during the
Oppenheimer times was all or nothing like example:
The discovery of diamonds in Siberia in the 1950s was a threat to the control De
Beers kept over the diamond supply. Rather than compete with Russian diamonds, De
Beers offered to buy almost everything that came out of Siberia -- funneling all the
worlds' diamonds through a "single channel." (Goldschein 2011)
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