The Diamond Cartel
Most of the major diamond producers belong to, or have cooperated with, the De Beers-led marketing cartel, formed to maintain the price of diamonds at a high level. De Beers, under Harry Oppenheimer's leadership (1957-84), maintained its dominant position in the industry by using its numerous worldwide companies to buy up new sources of diamonds and to control distribution of industrial diamonds and production of synthetic ones. In the last decades of the 20th cent., however, De Beers' hold over the unpolished diamond market decreased, and in 2000 the company announced it would end to its policy of controlling diamond prices through hoarding and shift its focus to increasing sales.
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