We all know the saying "diamonds are a woman's best friend". This saying is without a doubt based on a true fact: women tend to be fascinated by this gemstone and the jewelry containing it. It is that fascination for the precious stone that made the diamond industry what it is: a strong industry which is time proof and immune to economic crisis.
This article is not about that fascination and trying to explain its reasons. This article is about the history of diamonds and the diamond industry in a nutshell.
A diamond is a mineral primarily made of carbon. Diamonds are the hardest mineral in nature and the most brilliant of all minerals.
The first diamonds are said to have been discovered in India in the ninth century BC. They were associated with divinity and were then primarily used as a talisman to protect the warrior engaged in a battle. Diamonds where later found in Borneo in the 7th century and in Brazil in the 18th century but in insignificant size.
A significant source of diamonds was discovered in 1866 in South Africa. Diamond mines were then created in the Southern and central regions of the African continent.
The famous De Beers mining company took control of most of these mines and eventually formed the central selling organization that controls much of the world's trade in diamonds till this day.
During the 20th century the diamond industry was plagued by the "blood diamonds" phenomenon:
Diamonds mined in a war zone and sold to finance insurgency or a warlord's activity.
The year 2003 brought the establishment of the Kimberley process certification scheme which is designed to certify that stones sources are free of conflict fueled by diamond production.
John Tiriach
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