See, the company that was formed by Cecil John Rhodes, the man who created Zimbabwe
By Manamela | self meida writer
Published 23 days ago - 3 views
Cecil John Rhodes
Cecil John Rhodes was a prime minister of the Cape Colony, the present day Western Cape and part of Eastern Cape. He was from England. He created Rhodesia and ecil John Rhodes
Cecil John Rhodes secured funding from the Rothschild family to finance the expansion of his business from renting water pumps to miners during the diamond rush that happened in 1869. He formed De Beer Consolidated mines, creating the company's first monopoly, over South African mines. The company was the sole owner of all diamond mining operations in the country
De Beer Group
Ernest Oppenheimer bought a seat on De Beers's board in 1920s. He had founded the Anglo-American Corporation in 1917 and gained control of the Namibian mines and created a new diamond syndicate in 1925. In 1926, he became a single owner of the company of De Beer Consolidated mines.
De Beers is currently 85%-ownedby global diversified mining company Anglo American (LSE: AAL). In 2011, Anglo American took control of De Beers after buying the Oppenheimer's family stake of 40% for US$5.1 billion (£3.2 billion) and increasing its stake to 85%, ending the 80-year Oppenheimer control of the company.
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