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De Beers Diamond Jewellers (DBDJ) was established in 2001 as a 50:50 joint venture between The De Beers Group of Companies and LVMH, the French luxury goods company. [81] The first De Beers boutique opened in 2002 on London's Old Bond Street as the brand's flagship store. Since then, stores have opened in various cities around the world.
Sir Ernest Oppenheimer KStJ (22 May 1880 – 25 November 1957) was a diamond and gold mining entrepreneur, financier and philanthropist, [1] [2] [3] who controlled De Beers and founded the Anglo American Corporation of South Africa.
The Oppenheimer family is an Anglo–South African family best known for its longtime control of Anglo American and De Beers. [1] Ernest Oppenheimer, a German immigrant to Britain and later to South Africa, founded the Anglo American Corporation in 1917 to mine the Witwatersrand for gold. [2]
Anglo-American, a member of the Fortune 500 Europe, owns 85% of De Beers and is on a restructuring drive, which will include shedding the diamond business.
In 2001, De Beers was privatised after being a listed company for more than 70 years. [19] In 2002, South Africa's Mining Charter was approved, [20] and Anglo American and other mining companies with operations in the country were mandated to transfer a percentage of their South African production to historically disadvantaged South Africans. [21]
Diamond giant De Beers has seen its stockpile reach $2 billion, the biggest since the 2008 financial crisis, according to the Financial Times. "It’s been a bad year for rough diamond sales."
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.
Debswana Diamond Company Limited, or simply Debswana, is a mining company located in Botswana, and is the world's leading producer of diamonds by value. [3] Debswana operates four diamond mines in the eastern and central parts of Botswana, as well as a coal mine. [3]