De Beers is the head of an extremely large diamond company, dealing in various facets of the diamond market, including mining and exploration, manufacturing, selling and trading. The company was founded in 1888 by Cecil Rhodes, and for over 100 years, De Beers has been an essential player in the diamond market.

They're active in every major category of mining, like underground, large-scale, deep sea, and other mining exploits in Namibia, Canada, South Africa and Botswana. The company employs roughly 20,000 people and it earns an estimated $6 billion annually.

The De Beers diamond company basically controls the flow of diamonds in many countries around the globe. They've been labeled as a cartel and even viewed as cruel in some circles. This is no doubt due to their founding principles.

The group of producers behind De Beers had a goal to fix the prices in the diamond market, driving them up as far as the market would allow. They set out to control the supply and keep competition extremely limited. Historically, De Beers has succeeded and, outside of a few competitors, operate near monopoly status.

The company takes its name from the two founding brothers, Diederik Arnoldus De Beers and Johannes Nicholas De Beers. In the 1800s, the brothers discovered diamonds on their farm. Unable to keep their farm safe from various diamond raiders, the brothers sold their home and land to Premier and Kimberly mines. With the money the brothers accumulated, the purchased the controlling interests and attempted to reclaim their land, and far beyond.

In 1888, De Beers Consolidated Mines Limited was formed and the brothers owned Premier and most of Kimberly, as well as several other mines. A little over a decade later, the brothers joined forces with other prominent players, including the Barnaato Brothers and Anglo American, and began acquiring mines to drive up the prices by limiting supply sources and competition.

During the 1930s, the De Beers group owned around 90% of all diamond mines on the planet. The company operated out of London and found the United States to be their biggest importer. People paid handsomely for the gems De Beers ensured were kept rare.

However, since it was illegal for cartels to operate within the US borders, De Beers had to deal strictly with small businesses on a state-to-state basis. When the Great Depression hit, the diamond market crashed along with everything else, and De Beers was forced to shut down major mining operations.

In 1939 with the company now being controlled by Harry Oppenheimer, the group decided to campaign in the US on a broad scale. They met with Frances Gerety, a writer, and the slogan “A Diamond is Forever” was born.

Diamonds were now appealing to everyone with enough money to afford them. De Beers changed the way they did business in the states, so they wouldn't be considered a cartel, but their stronghold over the industry remained.

Although De Beers has been accused of investigated for human rights violations, conflicts and price fixing, the company is still the top player in the world. In 2005, they were allowed fully expand in the US and they set up shop in New York. Because of De Beers, diamonds are the highest-priced gem in the world.