When it comes to the world's rough diamond supply, one name stands out above the rest - De Beers. With a market share of over 80%, De Beers has long been the dominant force in the diamond industry. The company was founded in 1888 by Cecil Rhodes and has since grown to become one of the largest and most influential diamond producers in the world.
De Beers controls every aspect of the diamond supply chain, from mining and sorting to marketing and distribution. This vertical integration has allowed the company to maintain a tight grip on the market and ensure that prices remain stable. In fact, De Beers is known for its aggressive marketing campaigns that have helped to create and sustain demand for diamonds around the world.
One of the key reasons why De Beers has been able to maintain such a dominant position in the industry is its control over the supply of rough diamonds. The company owns mines in Botswana, Canada, Namibia, and South Africa, among other countries, giving it access to some of the richest diamond deposits in the world. This control over supply allows De Beers to dictate prices and ensure that they remain profitable.
Despite its dominance, De Beers has faced criticism over the years for its business practices, including allegations of price fixing and monopolistic behavior. However, the company has taken steps to address these concerns and has made efforts to promote ethical sourcing and sustainability within the diamond industry.
Overall, De Beers' control over more than 80% of the world's rough diamond supply is a testament to its long-standing influence in the industry. For more information on De Beers and its role in the diamond market, visit their official website at De Beers Group.
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