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These new diamonds were pouring into the market at a much lower price and threatened De Beers’ top spot. De Beers reacted by created the machines necessary to differentiate real diamonds from synthetic and insisted that these other companies market their product as artificial (Hitt, M., Ireland, R...
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Another hit to the diamond industry, and De Beers specifically, was the public’s reaction to “blood diamondsâ€. It was found out that many of the diamonds produced in South Africa were traded among warlords in exchange for weapons and other equipment, and the profits were used to fund their civil wars (Hitt, M...
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