Diamonds are indeed, forever.
I was quite desperated to know. So finally whatever I got to quench my thirst is here for you.
Most diamonds are over a billion years old, and have been brought to us by volcanic eruptions from hundreds of miles beneath the Earth's surface. Used for thousands of years as precious stones, but are they the most precious? Hardly. The idea that diamonds are rare and valuable is a relatively recent marketing idea by the diamond trade. In the past, diamonds were indeed relatively rare and found mainly in a few parts of Southern India and Brazil. But in 1870, new mines yielding tons of diamonds were opened in South Africa.Indeed, you may be surprised to learn that even through diamond production has increased in recent years, it is estimated that as little as 500 tons have ever been mined in recorded history to date. Of diamonds mined today, approximately 50% are judged to be of gem quality. Even fewer are large enough to be polished into diamonds that are much bigger than the head of a match.
To protect their investment, financiers of mining operations created a tight cartel, regulating the production, pricing and marketing of the stones. But they have done more than just protect their commercial interests; through clever marketing, they have led us to believe that the diamond is a romantic token, that it represents love-eternal, and that the diamond is forever. So don't ever try to sell one, or you will break the love spell.
After seeing diamonds worn by stars like Bette Davis, Marilyn Monroe and Elizabeth Taylor in romantic movies, people just had to own diamonds if they were to have any chance of being equally glamorous. They were, and still are, cleverly pushed through high-society magazines.But there is no magical love element in a diamond. In reality, a diamond is just a carbon crystal that somebody has dug out of a dirty mine. In Africa especially, as shown by Leonardo DiCaprio in the movie Blood Diamonds, labour is cheap, working conditions unhealthy and dangerous, and the mines are often far from miners' homes. Whilst mining camps do provide simple accommodation for the workers, no provision is made for their families. Consequently HIV from camp sex-workers is common. Even less glamorous are places like Surat in Gujarat, India, where 90% of all cut and polished diamonds are produced by child labourers1 or worse2. De Beers, by far the most significant member of the cartel, is fully aware of this situation and has made great efforts to improve things recently.
"Blood D
iamonds" (Leonardo DiCaprio, 2006)And not before time. For decades, De Beers suffered a bad image for its price fixing and slave-labour production methods. But now they are gradually embracing CSR. In 2002 they introduced an employee health and wellness initiative and in 2003 they started a drug treatment programme. In 2004, they pleaded guilty to criminal price fixing and paid an $8.2m fine, enabling them to have direct access to the US diamond market. In 2005 they signed an agreement with Attawapiskat First Nation people in Canada before mining on reservation land.
"Die A
nother Day" (Pierce Brosnan, 2002)
But the trade is still bad news for too many people. One problem with diamonds is their abundance, not scarcity. Traditionally, whenever a new source of diamonds is discovered (e.g. Russia, Australia, Canada), the cartel has been able to maintain control. In the days of the British Empire, it was relatively easy to directly control places like Africa. But now these countries have their independence, the diamond companies have had to use careful and astute management to survive and prosper into the 21st century. And they have been helped to a large extent by the United Nations. To stem the flow of funds to terrorist groups and politically unstable central and west African states, the U.N. Security Council has conveniently imposed a global ban on illicit trade in 'conflict diamonds' i.e. trade not controlled by the cartel3, an initiative known as the Kimberley Process.
Fortunately, 'conflict diamonds' have almost disappeared now, due to the negative publicity, rigid controls, and the ending of the civil wars that raged across the African continent. However, the rapidly developing economies of places like China and India are pushing up demand for diamonds, so there is still pressure to get more rocks dug, polished and prepared by slave labour. The Kimberley Process may need to widen its scope from mining to processing.
But whether or not the diamonds in the High Street are cut and polished by a slave child, whether or not the miner contracted TB from the poor working conditions, and whether or not the proceeds will add to the coffers of Al-Qaeda, people will still buy diamonds.
Because people believe, diamonds are the best way of saying "I love you, forever."