De Beers Consolidated Mines Ltd

Sectors:

  • Distribution - wholesaling, broking, market trading, etc Precious stones distribution inc diamonds
  • Extraction Precious stones extraction inc diamonds
  • Merchanting & trade, international & inland Precious stones trading & trade, inc diamonds

Notes:

Diamond exploration, mining and trading business which traces its origins to 1888. It was then formed as De Beers Consolidated Mines to acquire the diamond mining interests of Cecil Rhodes and of Barney Barnato, namely De Beers Mining Co Ltd and Kimberley Central Diamond Mining Co Ltd. De Beers Mining Co Ltd had been floated by Rhodes in 1880 and in 1881 had absorbed the diamond mining interests of Sir Frederick Philipson Stow and later became linked to Sir Alfred Beit, the leading diamond merchant. Immediately the new business acquired other mining businesses and dominated diamond mining industry in South Africa. Consolidated its position through an agreement with the London based Diamond Syndicate for the controlled marketing of diamonds. Francis Oates, 1848-1918, with interests in Cornish mining, was a director from 1887 and chairman from 1908. From 1920s, led by Oppenheimer family who established in 1917 the Anglo American Corporation of South Africa which from 1920s held a substantial interest in de Beers. Continues

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