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 Periodical article |
 Leiden University catalogue |
 WorldCat |
| Title: | The Diamond Mining Industry in South Africa: Spotlight on De Beers |
| Author: | Ganguly, Kajori |
| Year: | 1998 |
| Periodical: | African Currents |
| Volume: | 13 |
| Issue: | 25 |
| Period: | April |
| Pages: | 67-85 |
| Language: | English |
| Geographic term: | South Africa |
| Subjects: | diamond mining mining companies Development and Technology Economics and Trade |
| Abstract: | The consolidation of the De Beers Mining Company and the Kimberley Central Mining Company in March 1888 resulted in the creation of De Beers Consolidated Mines Limited, the company which since then has monopolized diamond mining not only in South Africa but all over the world. This article recounts the story of the early discoveries of diamonds in South Africa and the significance for the economy. It describes the formation of De Beers and the company's mining operations. It also considers De Beers' marketing arm, known as the Central Selling Organization (CSO), and the strategy of single channel marketing first conceived by Sir Ernest Oppenheimer, chairman of the Board of De Beers, in the wake of the Great Depression. It is estimated that some 80 percent of shares in De Beers are held by South African institutions, companies or individuals. De Beers generates foreign exchange earnings and tax revenue for the South African economy, provides employment for about 9,000 people directly, and is a major investor in other South African companies, as well as providing substantial support to community projects, small business development, environment and nature conservation, and tourism. |