The history of diamond mining glitters with tales of adventure, vast wealth, and powerful men. Over a period of years, control of the South African diamond mines eventually came under the influence of a single company, De Beers Consolidated Mines, Ltd., a publicly held company.

Through its subsidiaries and contracts with other com¬panies, De Beers controls the mining and marketing of more than 3/4 of the world's diamonds. This centralization of control results in great price stability, which has proven beneficial to the jewelry trade.

.

Ai1er mining and initial sorting, diamonds are sold to the Diamond Company, owned by De Beers, which sorts them into smaller - These parcels are sold to invited buyers at special sales called '" The parcels are selected by the Trading Company, and the buyers have only the choice of buying or not buying what they are offered many buyers do not accept their parcels, the Trading Comsspany may stockpile diamonds through its selling agent, the Central Selling Corporation.