Case Study: Cleaning the diamond: De Beers' fifth C

Title
Cleaning the diamond: De Beers' fifth C 

Author
Gandlur, S; Darbha, K 

Pages
13 

Product Type
 

Reference #
704-062-1 

Teaching Note
704-062-8 

Institute
ICFAI Business School Case Development Centre 

Setting
Africa 

Year
2004 

Keywords
De Beers; The diamond industry; The diamond syndicate, cartel; Kimberley process certification scheme; Forevermark; The Diamond Trading Company (DTC); Best practice principles; Civil strife, wars; Conflict diamonds; Angola, Sierra Leone, Liberia; Sightholders; Democratic Republic of Congo; World Diamond Council (WDC); Clean Diamond Trade Act; Corporate social responsibility



Summary/
Abstract
De Beers, the world's largest diamond mining and trading company, has been criticised for trading diamonds from the conflict areas in Africa, and thus indirectly supporting the rebel groups in their wars against the legitimate governments, since the 1990s. To clean its tarnished image and rebuild the confidence of its partners, local governments, regulators and civil society organisations as well as the consumers, the diamond giant has taken up certain initiatives, in the early 21st century. This case helps in understanding the issue of 'conflict diamonds' from a socio-economic perspective, and the measures taken by De Beers and the diamond industry to curb the trade in conflict diamonds. The case also provides scope for discussing the Kimberley process certification scheme as a model customer service relations (CSR) initiative, a self-regulatory model for an industry, and a manifestation of the joint endeavours of the business corporations, civil society, governments, and the UN (United Nations

 

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