Africa: King of Diamonds

In the cathedral-like atmosphere of the world's diamond headquarters, where aged Havana leaf burns like incense and merchants converse in hushed tones, a change is slowly taking place. The De Beers diamond cartel, which has its Central Selling Organization in London and its production fields in Africa, has opened a discreet but energetic campaign to promote the glitter of diamonds to new markets. In the U.S., which traditionally buys one-half of the world's gem diamonds, jewelry has lost some of its shine—people who can afford diamonds often prefer other luxuries, such as trips abroad. De Beers is concentrating on...

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