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Donald Haack, 78, diamond expert, adventurer, author and founder of Donald Haack Diamonds & Fine Gems in Charlotte passed away peacefully on Sunday, March 1, 2009
Diamond Memoirs

Replica of a check given in payment for the purchase of the Kimberly Mine.
De Beers
De Beers was founded in South Africa in 1888 and today comprises rough diamond exploration, mining and trading companies. The various companies within the De Beers “family of companies” are responsible for around 40% of world diamond production by value. De Beers is active in every category of diamond mining: open-pit, underground, large-scale alluvial, coastal and deep sea. De Beers is not involved in informal small-scale diamond mining, which is rarely economical for large mining companies. De Beers has a presence in 25 countries, largely on account of its extensive exploration activities. Mining takes place in Botswana, Namibia, South Africa and Tanzania.
The sales and marketing arm of De Beers is a company called the Diamond Trading Company (the DTC).This company sells almost half of the world’s rough diamonds by value. Other diamonds sold through the DTC include those purchased from the Russian diamond mining company Alrosa[6]). The DTC also creates and develops marketing programmes to stimulate interest in, and demand for, diamonds and diamond jewellery. De_Beers
De Beers
by Donald Haack

(Excerpted from Bush Pilot in Diamond Country):
DeBeers has always been a much misunderstood monopoly. Some think it is the same as OPEC, the oil monopoly. Couldn’t be further from the truth. Others think there are huge stock piles of all grades and sizes of diamonds. Also not true. Production and demand of quality grades, sizes and fashion trends create a shortage and/or a market surplus. DeBeers’ stockpiling and financing stabilizes prices that otherwise would have wild peaks. That doesn’t occur in other commodities. Copper, iron, bauxite (aluminum ore), and oil are a few examples. They experience the vagaries of supply and demand. Consequently when prices fluctuate for a country dependent on those commodityies, there can be devastating economic effects. Not so in diamonds.
DeBeers is also quite different in that it helps countries or companies in exploration. If found, it uses its vast resources to design and obtain the most efficient mining equipment and finances the huge investment. Something no other monopoly does: guarantees a steady market and contracts to buy 100% of its production of diamonds from industrial bort to the finer and bigger sizes at a guaranteed price for a five years period. That gives a tremendous stability to a country, more so than any World Bank or International Monetary Fund could hope to do. Further, DeBeers spends over $250 million dollars a year in advertising to help stabilize the market.”