Editing De Beers (section)

===Oppenheimer control===
In 1898, diamonds were discovered on farms near [[Pretoria]], Transvaal. One led to the discovery of the [[Premier Mine]]. The Premier Mine was registered in 1902 and the [[Cullinan Diamond]], the largest rough diamond ever discovered, was found there in 1905.<ref>{{cite book |last1=Levinson |first1=Olga |title=Diamonds in the desert : the story of August Stauch and his times |date=1983 |publisher=Tafelberg |location=Cape Town |isbn=0624019217 |page=3 |edition=1st}}</ref> (The Premier Mine was renamed the Cullinan Mine in 2003.) However, its [[Nicky Oppenheimer|owner]] refused to join the<ref name="Factbox: De Beers past and present">{{Cite news |url=https://www.reuters.com/article/us-angloamerican-debeers-fb-idUSTRE7A33O320111104 |title=Factbox: De Beers past and present |date=4 November 2011 |work=Reuters |access-date=2017-07-30}}</ref> De Beers cartel.<ref name="Zoellner">{{cite book |url=https://books.google.com/books?id=n8cDYak68CMC |author=Tom Zoellner |year=2007 |publisher=Macmillan |isbn=978-0-312-33970-8 |access-date=27 November 2008 |title=The Heartless Stone: A Journey Through the World of Diamonds, Deceit, and Desire}}</ref> Instead, the mine started selling to a pair of independent dealers named [[Bernard Oppenheimer|Bernard]] and [[Ernest Oppenheimer]], thereby weakening the De Beers stronghold.<ref name="EB"/>
[[Francis Oats]], who became Chairman of De Beers in 1908, was dismissive of the threats from the Premier Mine and the finds in [[German South West Africa]].<ref>{{citation |last=Farrell-Robert |first=Janine |title=Glitter & Greed: The Secret World of the Diamond Cartel |url=https://books.google.com/books?id=bHxgFQssc2IC&pg=PT171 |access-date=2016-08-17 |date=2007 |publisher=Red Wheel Weiser |isbn=978-1-60925-880-1 |pages=PT171ff}}</ref>
However, production soon equalled all of the De Beers mines combined. Ernest Oppenheimer was appointed the local agent for the powerful London Syndicate, rising to the position of mayor of Kimberley within 10&nbsp;years. He understood the core principle that underpinned De Beers's success, stating in 1910 that "common sense tells us that the only way to increase the value of diamonds is to make them scarce, that is to reduce production".<ref name="Zoellner"/>

During World War I, the Premier Mine was finally absorbed into De Beers. When Rhodes died in 1902, De Beers controlled 90% of the world's diamond production. Ernest Oppenheimer took over the chairmanship of the company in 1929,<ref>{{cite book |last1=Chilvers |first1=Henry |title=The Story of De Beers |date=1939 |publisher=Cassell |page=310}}</ref> after buying shares and being appointed to the board in 1926.<ref name="EB">{{cite book |url=https://www.britannica.com/EBchecked/topic/153349/De-Beers-SA |title=De Beers S.A. |date=28 November 2023 |publisher=Encyclopædia Britannica}}</ref><ref>{{cite book |last1=Corbett |first1=Ali |title=Diamond Beaches: A History of Oranjemund |date=2002 |publisher=Namdeb Diamond Corporation |isbn=0620282886 |page=14 |edition=Second}}</ref><ref name="The Story of De Beers"/> Oppenheimer was very concerned about the discovery of diamonds in 1908 in German [[South West Africa]], fearing that the increased supply would swamp the market and force prices down.<ref name="Janine P. Roberts 2003"/><ref name="Theodor Emanuel Gregory 1977"/> Former CIA chief Admiral [[Stansfield Turner]] claimed that De Beers restricted US access to industrial diamonds needed for the country's war effort during World War II.<ref name="Roberts">{{cite book |url=https://books.google.com/books?id=raO8jHBdDhYC |author=Janine P. Roberts |title=Glitter & Greed: The Secret World of the Diamond Empire |pages=115–21 |isbn=0-9713942-9-6 |publisher=The Disinformation Company |year=2003}}</ref>

During the early 1930s, the company conducted experimental work which in large part pioneered the use of [[Exploration diamond drilling|diamond drills]]. This was highly preferable to more expensive and rarer carbons previously in use.<ref name=":0">{{Cite journal |last=Oppenheimer |first=Ernest |date=1947 |title=The Discovery of Gold in the Orange Free State and Its Economic Effects |url=https://www.jstor.org/stable/718071 |journal=African Affairs |volume=46 |issue=185 |pages=220–223 |doi=10.1093/oxfordjournals.afraf.a093590 |jstor=718071 |issn=0001-9909}}</ref> The [[Free State Gold Rush]] was made possible in part due to this innovation, as the fields required deep drilling to reach [[Gold reef|gold-bearing reefs]].<ref name=":0" />

In May 1955, Ernest Oppenheimer opened the new headquarters which combined the operations of Anglo American and the De Beers group.<ref>{{cite book |last=Kanfer |first=Stefan |title=The Last Empire: De Beers, Diamonds, and the World |year=1993 |publisher=Farrar, Straus and Giroux |page=[https://archive.org/details/lastempiresoutha00kanf/page/265 265] |isbn=978-0-374-15207-9 |url=https://archive.org/details/lastempiresoutha00kanf/page/265}}</ref> After Ernest died in November 1957, operation of Anglo and De Beers were passed on to his son, [[Harry Oppenheimer]].<ref>{{cite book |last=Kanfer |first=Stefan |title=The Last Empire: De Beers, Diamonds, and the World |year=1993 |publisher=Farrar, Straus and Giroux |page=[https://archive.org/details/lastempiresoutha00kanf/page/267 267–68] |isbn=978-0-374-15207-9 |url=https://archive.org/details/lastempiresoutha00kanf/page/267}}</ref> Under Harry, the company expanded to several different countries around the globe, including Canada, [[Australia]], [[Malaysia]], [[Portugal]], [[Zambia]], and [[Tanzania]].<ref>{{cite book |last=Kanfer |first=Stefan |title=The Last Empire: De Beers, Diamonds, and the World |year=1993 |publisher=Farrar, Straus and Giroux |page=[https://archive.org/details/lastempiresoutha00kanf/page/291 291–92] |isbn=978-0-374-15207-9 |url=https://archive.org/details/lastempiresoutha00kanf/page/291}}</ref> In South Africa, Harry opposed [[apartheid]], arguing that it hindered economic growth.<ref>{{cite book |last=Kanfer |first=Stefan |title=The Last Empire: De Beers, Diamonds, and the World |year=1993 |publisher=Farrar, Straus and Giroux |page=[https://archive.org/details/lastempiresoutha00kanf/page/284 284] |isbn=978-0-374-15207-9 |url=https://archive.org/details/lastempiresoutha00kanf/page/284}}</ref> Despite this, De Beers has been criticized for profiting from the system during the apartheid period.<ref name="Factbox: De Beers past and present"/> By 1973, Anglo and De Beers accounted for 10 percent of South Africa's gross national product and 30 percent of the country's exports.<ref>{{cite book |last=Kanfer |first=Stefan |title=The Last Empire: De Beers, Diamonds, and the World |year=1993 |publisher=Farrar, Straus and Giroux |page=[https://archive.org/details/lastempiresoutha00kanf/page/316 316] |isbn=978-0-374-15207-9 |url=https://archive.org/details/lastempiresoutha00kanf/page/316}}</ref>

Throughout the 1960s and 1970s, De Beers attempted to secretly enter the United States' diamond market, being forced to divest its American assets in 1975 to avoid the risk of violating anti-trust laws.<ref>{{cite book |last=Kanfer |first=Stefan |title=The Last Empire: De Beers, Diamonds, and the World |year=1993 |publisher=Farrar, Straus and Giroux |page=[https://archive.org/details/lastempiresoutha00kanf/page/318 318] |isbn=978-0-374-15207-9 |url=https://archive.org/details/lastempiresoutha00kanf/page/318}}</ref> Harry Oppenheimer stepped down as the chairman and director of Anglo-American and De Beers in December 1982.<ref>{{cite book |last=Kanfer |first=Stefan |title=The Last Empire: De Beers, Diamonds, and the World |year=1993 |publisher=Farrar, Straus and Giroux |page=[https://archive.org/details/lastempiresoutha00kanf/page/346 346] |isbn=978-0-374-15207-9 |url=https://archive.org/details/lastempiresoutha00kanf/page/346}}</ref>