De Beers

From Simple English Wikipedia, the free encyclopedia

De Beers is a mining company started in 1888 by the British businessman Cecil Rhodes. They controlled the trading of diamonds for many years as they controlled most of Africa's rich diamond mines. For most of the 20th century over 80% of the world's rough diamonds passed through the company. In 2023 they still have about 40% of world diamond production.

They have three Debswana mines in Botswana. That is about 25% of worldwide production. There has been an agreement with Botswana since 1969. In 2023 a new agreement was made giving the country more of the diamonds - 30% in 2023, 40% from 2028 and 50% from 2033.[1]

References[change | change source]

  1. Dempsey, Harry; Cotterill, Joseph (2023-07-25). "De Beers prospects blemished after Botswana cuts new diamond deal". Financial Times. Retrieved 2023-07-25.