WHEELING AND DEALING
The company has only recently been allowed unfettered trading in the US after settling a long-standing antitrust dispute with the US authorities for $295m. That’s because for many years, De Beers controlled the diamond market by withholding its supply of unpolished diamonds in order to create supply. It was price manipulation De Beers denied for years. Even now, its officials wince at the mention of “syndicate” in relation to the De Beers brand.
In some respects, those were dark days