- Percentage of non-white ownership of mining companies operating in South Africa during the Apartheid years: 0
- Percentage of non-white ownership by 2007: 15
- Projected percentage by 2014: 26
- Year in which South Africa's De Beers was charged with conspiracy to fix prices for industrial and rough diamonds in the US and elsewhere: 1994
- Number of years later in which De Beers pleaded guilty and agreed to pay $10 million to settle indictment so that it could do business with the US: 10
Sources: 1 African Business; 2 Washington Post
South Africa
For most of its history, diamonds in South Africa meant De Beers and the apartheid government. South Africa's post-apartheid constitution brought many changes to the diamond industry. Black Economic Empowerment (BEE), a government policy aimed directly at increasing economic ownership and benefits for the country's black population, took hold. A new land act enabled claims by indigenous groups evicted from their traditional territory. And beneficiation, a still-contentious government process that attempts to keep more of the benefits from its diamonds in the country, became a national priority.
South Africa is not alone among diamond-producing nations. Governments around the world are trying to balance international investment with a strong local diamond industry.
Make up your own mind about this issue. To watch a featured story about what diamonds mean to some of the characters in Diamond Road Online, click here.
Lifting "the curse of oil and diamonds"
"Very often I hear people around our continent speaking about 'the curse of oil and diamonds.' This reflects the fear that any of our countries blessed with natural deposits of oil and diamonds is more than likely to be cursed with all manner of problems, including instability and conflict, corruption and unhealthy interference by those from the rest of the world interested in laying their hands on these natural resources
".. the diamond industry has always had the potential to play a critical role in the development of the specific countries. Indeed, there are instances where the diamond industry has played such a role and has helped to address the challenges of poverty and underdevelopment.
"Today, this industry still has the possibility to play a significant role in the economic reconstruction and development of Africa, and particularly in those diamond-producing countries whose economic infrastructure and social fabric have been destroyed by conflict and civil strife."