This is a history of the production and marketing of diamonds from
the period of the `rush' to Kimberley and the rise of De Beers to
the formation of the Central Selling Organization by South African
producers and London and South African merchants. Based on a wide
variety of original sources from public and mining company
archives, it is both a business and a political study of a South
African monopoly which became an international cartel. The Diamond
Ring departs from previous histories by emphasizing the key role of
the merchants in financing and organizing the trade in opposition
to the South African state, as each struggled to gain control of
production in the 1920s and 1930s. It explains the reasons for
state interest in diamond production and the eventual co-operation
of politicians, officials, and diamond magnates in regulating
supply and sales. It includes much new material on the ways in
which the British government strengthened the hand of the Diamond
Syndicate and the Diamond Corporation to maintain and extend
central selling beyond South Africa to other states - Zaire,
Angola, Ghana, and Sierra Leone - before independence, as the
`Ring' expanded into a world-wide brokerage based in London.
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