De beers diamonds
Storyboard Text
- If I want to be very rich i need more of these
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- you own this place right?
- Yeah just sign this contract if you want to buy it from me.
- Listen i heard the biggest diamond mine is called Premier Mine is here in Pretoria
- Lets go buy it!!
- Cecil Rhodes, a British entrepreneur, formed the company in 1888 with the help of South African diamond billionaire Alfred Beit and the England N M Rothschild & Sons bank.
- I own 90% of the diamond mines i am so rich
- Rhodes signed a strategic arrangement with the London-based Diamond Society in 1889, in which the company promised to buy a specific quantity of diamonds at a set price, thereby limiting output and sustaining prices.
- Give me all your diamonds
- Diamonds were discovered near Pretoria, Transvaal, in 1898. The Premier Mine was discovered as a result of one of them. The Premier Mine was established in 1902, and in 1905, the Cullinan Diamond, the world's largest rough diamond, was discovered there.
- Im the best in the world
- The Premier mine was eventually acquired into De Beers during World War I. De Beers held 90% of the world's diamond production when Rhodes died in 1902. In 1929, Ernest Oppenheimer became the company's chairman.
- Throughout the twentieth century, De Beers tried a variety of strategies to influence the international diamond market by using its strong position. First it tried to get independent producers to join its monopoly on a single channel. When that failed, it overwhelmed the market with diamonds that were identical to those produced by producers who refused to participate, lowering their price and undermining the return for the faithful.
- The De Beers Group of Companies , the French luxury goods firm, formed De Beers Diamond Jewellers in 2001 as a 50:50 joint venture.
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