The modern era of diamonds began with a momentous discovery in South Africa that would forever transform the global diamond industry, shift economic power, and create new centers of wealth and influence. Prior to the 19th century, diamonds were the exclusive domain of royalty and the ultra-wealthy, sourced primarily from India’s ancient mines. However, the discovery of vast diamond deposits in South Africa in the 1860s democratized these precious stones, making them accessible to a broader segment of society while simultaneously creating new forms of economic control and market manipulation.

This transformation was not merely about increased supply; it fundamentally altered how diamonds were mined, processed, marketed, and perceived. The rise of industrial-scale mining operations, the creation of powerful monopolies, and the invention of brilliant marketing campaigns that made diamonds synonymous with love and commitment all emerged during this period. From the muddy banks of South African rivers to the gleaming showcases of Fifth Avenue, from the laboratories of General Electric to the remote mines of Canada and Australia, the modern diamond story is one of technological innovation, colonial exploitation, marketing genius, and evolving ethical consciousness.

Find the complete history of diamonds here: ‘A Complete History Of Diamonds: From The Ancient Era To Today‘. Interested in finding out how diamonds enable quantum computing? Click here.

A History Of Diamonds In The Modern Era (1800 – Present Day)

The modern diamond era represents a dramatic departure from centuries of small-scale, alluvial mining in India and Brazil. Beginning with the South African discoveries of the 1860s, the diamond industry underwent rapid industrialization, consolidation, and globalization. This period witnessed the rise of mining giants like De Beers, the opening of new diamond fields across multiple continents, revolutionary advances in cutting and synthesis technology, and the creation of cultural narratives that transformed diamonds from aristocratic baubles into symbols of middle-class aspiration. The story encompasses colonial exploitation, technological breakthroughs, marketing brilliance, and ongoing struggles over ethics, ownership, and environmental responsibility.

Chronology

• 1812 – The Hope Diamond surfaces in London in the possession of diamond merchant Daniel Eliason, just two days after the statute of limitations for crimes committed during the French Revolution expired [1]
• 1826 – Diamonds are discovered in Brazil in the state of Minas Gerais, briefly making Brazil the world’s leading diamond producer until South African discoveries overshadow Brazilian production [2]
• 1839 – The Hope Diamond appears in the published catalog of Henry Philip Hope’s gem collection, giving the famous blue diamond its enduring name [3]
• 1851 – The Hope Diamond is displayed at the Great Exhibition in London’s Crystal Palace, attracting thousands of viewers despite complaints about its dull appearance [4]
• 1854 – The Asscher Diamond Company is founded in Amsterdam by Joseph Isaac Asscher, establishing what would become one of the world’s most prestigious diamond cutting houses [5]
• 1852 – Coster Diamonds of Amsterdam recuts the famous Koh-i-Noor diamond for the British Crown, reducing it from 186 carats to 105.6 carats to enhance its brilliance [6]
• 1866 – Erasmus Jacobs, a 15-year-old boy, discovers a 21.25-carat diamond near the Orange River in South Africa, later named the Eureka Diamond, marking the beginning of South Africa’s diamond era [7]
• 1869 – The 83.5-carat Star of South Africa diamond is discovered, sparking the first major diamond rush to the region [8]
• 1871 – Diamonds are discovered on Colesberg Kopje (later the site of the Kimberley Mine) in July, leading to the establishment of what would become the world’s largest hand-dug excavation [9]
• 1871 – The British annex the diamond fields as the Crown Colony of Griqualand West, asserting colonial control over the region’s mineral wealth [10]
• 1872 – The diamond mining camp of New Rush is established, later renamed Kimberley after the British Colonial Secretary [11]
• 1873 – Venetian lapidary Hortentio Borgio cuts the Orlov Diamond for Catherine the Great of Russia, setting it in the Imperial Sceptre [12]
• 1874 – Count Grigory Orlov purchases the Orlov Diamond for Catherine the Great in an unsuccessful attempt to regain her favor [13]
• 1880 – Cecil Rhodes establishes De Beers Mining Company with Charles Rudd, beginning his consolidation of South African diamond mines [14]
• 1882 – Kimberley becomes the first city in the Southern Hemisphere to install electric street lighting, powered by wealth from diamond mining [15]
• 1888 – Cecil Rhodes merges with Barney Barnato to form De Beers Consolidated Mines Limited on March 12, gaining control of approximately 90% of world diamond production [16]
• 1889 – De Beers negotiates an agreement with the London-based Diamond Syndicate to regulate output and maintain prices, establishing the template for future market control [17]
• 1893 – The Excelsior Diamond (995.2 carats) is discovered at Jagersfontein Mine in South Africa on June 30, becoming the largest known diamond at that time [18]
• 1900 – De Beers controls an estimated 90 percent of the world’s production of rough diamonds through its South African mines [19]
• 1902 – Joseph Asscher designs and patents the Asscher cut, the first patented diamond cut, featuring a distinctive square shape with an X pattern visible from above [20]
• 1902 – The Premier Mine is established in South Africa by Thomas Cullinan, which would soon yield the world’s largest diamond [21]
• 1905 – The Cullinan Diamond (3,106 carats) is discovered by Frederick Wells at the Premier Mine on January 26, becoming the largest gem-quality rough diamond ever found [22]
• 1906 – John Wesley Huddleston discovers diamonds on his property near Murfreesboro, Arkansas in August, leading to the establishment of the only diamond mine in the United States [23]
• 1907 – The Transvaal government purchases the Cullinan Diamond for £150,000 and presents it to King Edward VII of Britain [24]
• 1908 – Joseph Asscher successfully cleaves the Cullinan Diamond in Amsterdam, ultimately producing 105 polished gems including the Great Star of Africa (530.2 carats) [25]
• 1911 – American socialite Evalyn Walsh McLean purchases the Hope Diamond from Cartier for $185,000, beginning its most famous period of private ownership [26]
• 1912 – The Hope Diamond is reset as a pendant on a diamond necklace, the form in which it is known today [27]
• 1914 – The Kimberley Mine closes after producing 2,722 kilograms (14.5 million carats) of diamonds from 22.5 million tons of earth excavated [28]
• 1926 – Ernest Oppenheimer is elected to the board of De Beers, beginning his family’s long control of the company [29]
• 1930s – De Beers begins conducting experimental work with diamond drills, pioneering their use in deep mining operations [30]
• 1939 – De Beers launches a marketing campaign with N.W. Ayer & Son to increase demand for diamond engagement rings in the United States [31]
• 1947 – Frances Gerety of N.W. Ayer creates the slogan “A Diamond is Forever” for De Beers, later recognized as the greatest advertising slogan of the 20th century [32]
• 1949 – Harry Winston purchases the Hope Diamond from the McLean estate, beginning a decade of displaying it at charitable events worldwide [33]
• 1953 – Swedish company ASEA successfully creates synthetic diamonds on February 16 but keeps the achievement secret [34]
• 1954 – H. Tracy Hall at General Electric produces the first commercially viable synthetic diamonds on December 16, announcing the breakthrough in February 1955 [35]
• 1958 – Harry Winston donates the Hope Diamond to the Smithsonian Institution on November 10, where it becomes the museum’s premier attraction [36]
• 1967 – De Beers discovers the Orapa diamond deposit in Botswana, marking the beginning of Botswana’s emergence as a major diamond producer [37]
• 1967 – De Beers purchases the Eureka Diamond and donates it to the people of South Africa for the centenary of its discovery [38]
• 1971 – De Beers forms Debswana with the government of Botswana as a 50-50 partnership to develop the Orapa mine [39]
• 1972 – The Argyle Mine is discovered in Western Australia by geologists employed by the Ashton Joint Venture, though diamond samples are not found until 1979 [40]
• 1973 – The Jwaneng diamond deposit is discovered in Botswana in February, later becoming the world’s richest diamond mine by value [41]
• 1976 – The Diavik deposit is discovered in Canada’s Northwest Territories during systematic exploration by De Beers [42]
• 1979 – The Argyle diamond pipe is discovered in Western Australia on October 2, which would become the world’s largest source of pink diamonds [43]
• 1980 – Queen Juliana of the Netherlands grants the Asscher Diamond Company a royal title, making it the Royal Asscher Diamond Company [44]
• 1982 – The Jwaneng Mine in Botswana begins operations, quickly becoming the world’s richest diamond mine by value [45]
• 1985 – The Argyle Mine in Australia is commissioned in December, soon becoming the world’s largest diamond producer by volume [46]
• 1985 – Sumitomo Electric Industries in Japan announces large-scale production of gem-quality synthetic diamonds for industrial use [47]
• 1988 – De Beers’ market share peaks at approximately 90% of global rough diamond sales [48]
• 1991 – Chuck Fipke and Stewart Blusson discover diamonds at Lac de Gras in Canada’s Northwest Territories, sparking the largest staking rush in Canadian history [49]
• 1994 – De Beers announces plans to develop Canada’s first diamond mine at Ekati following successful exploration [50]
• 1998 – The Ekati Diamond Mine begins production on October 14, becoming Canada’s first commercial diamond mine [51]
• 2000 – De Beers’ market share of rough diamonds falls to 63% as new producers enter the market [52]
• 2000 – Canada emerges as a significant diamond producer with the opening of multiple mines in the Northwest Territories [53]
• 2002 – Edward Asscher creates the Royal Asscher Cut, updating the classic Asscher cut with 74 facets instead of 58 [54]
• 2003 – The Diavik Diamond Mine in Canada begins production in January, becoming one of the world’s largest diamond mines [55]
• 2003 – The Premier Mine in South Africa is renamed the Cullinan Diamond Mine in honor of the famous diamond discovered there [56]
• 2006 – The film “Blood Diamond” raises public awareness about conflict diamonds and ethical sourcing issues [57]
• 2008 – De Beers moves its sorting and sales operations from London to Gaborone, Botswana, marking a historic shift in the diamond trade [58]
• 2011 – Queen Beatrix of the Netherlands perpetuates the Royal Predicate for Royal Asscher for another 25 years [59]
• 2013 – The Argyle Mine transitions from open-pit to underground operations to extend its productive life [60]
• 2019 – Canada produces 18.6 million carats valued at $2.25 billion, making it the world’s third-largest diamond producer [61]
• 2020 – The Argyle Diamond Mine in Australia closes in November after 37 years of operation and producing over 865 million carats [62]
• 2021 – Arctic Canadian Diamond Company acquires the Ekati Diamond Mine from Dominion Diamond Mines [63]
• 2023 – Burgundy Diamond Mines purchases full control of Arctic Canadian Diamond Company and the Ekati Mine [64]
• 2024 – The underground expansion of Jwaneng Mine in Botswana begins, extending the mine’s life beyond 2040 [65]

Final Thoughts

The history of diamonds in the modern era reveals a profound transformation in how humanity values, extracts, and perceives these crystallized carbon formations. What began as rare treasures adorning the crowns of emperors evolved into symbols of romantic commitment accessible to millions, driven by unprecedented discoveries, technological innovations, and masterful marketing. The South African discoveries of the 1860s didn’t merely increase supply; they fundamentally restructured global power dynamics, created new forms of colonial exploitation, and established corporate monopolies that would shape international commerce for over a century.

Today’s diamond industry stands at another crossroads. The closure of iconic mines like Argyle, the rise of laboratory-grown diamonds, and increasing consumer consciousness about ethical sourcing are reshaping an industry built on both natural scarcity and manufactured desire. From the Kimberley Mine’s “Big Hole” to Botswana’s transformation into a middle-income nation through diamond revenues, from the Asscher family’s Amsterdam workshop to cutting-edge synthetic diamond laboratories, this modern history demonstrates how a simple carbon crystal can embody humanity’s greatest aspirations and deepest contradictions. As we move forward, the diamond story continues to evolve, reflecting our changing values about luxury, sustainability, and the true meaning of “forever.”

Thanks for reading!

References

[1] History of the Hope Diamond – https://naturalhistory.si.edu/explore/collections/hope-diamond-history

[2] Brazilian Diamonds: A Historical and Recent Perspective – https://www.gia.edu/gems-gemology/spring-2017-brazilian-diamonds

[3] History of the Hope Diamond | Smithsonian Institution – https://www.si.edu/spotlight/hope-diamond/history

[4] History of the Hope Diamond | Smithsonian National Museum of Natural History – https://naturalhistory.si.edu/explore/collections/hope-diamond-history

[5] Royal Asscher Diamond Company – Wikipedia – https://en.wikipedia.org/wiki/Royal_Asscher_Diamond_Company

[6] Diamond houses – Diamond Museum Amsterdam – https://www.diamondmuseum.com/exhibits-themes/diamond-houses/diamond-houses/

[7] Eureka Diamond – Wikipedia – https://en.wikipedia.org/wiki/Eureka_Diamond

[8] Kimerley | Wilbur Smith’s Notebook – https://www.wilbursmithbooks.com/wilbur-s-notebook/kimberley

[9] Big Hole – Wikipedia – https://en.wikipedia.org/wiki/Big_Hole

[10] Kimberley, Northern Cape – Wikipedia – https://en.wikipedia.org/wiki/Kimberley,_Northern_Cape

[11] KIMBERLEY MINE – A CHRONOLOGICAL PICTORIAL OF THE BIG HOLE – https://grahamlesliemccallum.wordpress.com/2014/07/03/a-chronological-pictorial-of-the-kimberley-mine/

[12] Orlov (diamond) – Wikipedia – https://en.wikipedia.org/wiki/Orlov_(diamond)

[13] The Orlov Diamond | Ajediam – https://ajediam.com/diamond-history/famous-diamonds/the-orlov-diamond/

[14] Cecil Rhodes – Wikipedia – https://en.wikipedia.org/wiki/Cecil_Rhodes

[15] South African Diamond History | CT Diamond Museum – https://www.capetowndiamondmuseum.org/about-diamonds/south-african-diamond-history/

[16] De Beers – Wikipedia – https://en.wikipedia.org/wiki/De_Beers

[17] Early History of De Beers Diamonds – https://suttonsandrobertsons.com/articles/the-early-history-of-de-beers/

[18] History – Royal Asscher – https://royalasscher.com/pages/history

[19] History of Diamonds, Where Do Diamonds Come From – https://www.brilliance.com/education/diamonds/history

[20] The History of Asscher Cut Diamonds – https://www.gemsociety.org/article/history-asscher-cut-diamonds/

[21] Premier Mine – Wikipedia – https://en.wikipedia.org/wiki/Premier_Mine

[22] Cullinan Diamond – Wikipedia – https://en.wikipedia.org/wiki/Cullinan_Diamond

[23] History of the Diamond Mine | Arkansas State Parks – https://www.arkansasstateparks.com/parks/crater-diamonds-state-park/history/history-of-the-diamond-mine

[24] Cullinan diamond discovered in the Premier diamond mine in 1905 – https://internetstones.com/cullinan-diamond-famous-jewelry.html

[25] World’s largest diamond found | January 25, 1905 | HISTORY – https://www.history.com/this-day-in-history/january-25/worlds-largest-diamond-found

[26] The Hope Diamond: A Journey Through History, Mystery, and Myth – https://timcodiamonds.com/en/editorial/the-hope-diamond-a-journey-through-history-mystery-and-myth/

[27] 10 Amazing Facts About the Cursed Hope Diamond – https://fiveminutehistory.com/10-amazing-facts-about-the-cursed-hope-diamond/

[28] Big Hole – Wikipedia – https://en.wikipedia.org/wiki/Big_Hole

[29] The history of diamonds – Part 2 – https://ethica.diamonds/blogs/news/the-history-of-diamonds-part-2

[30] The eventful history of De Beers – https://www.baunat.com/en/the-unusual-story-of-de-beers-company-controlling-diamond-prices

[31] The history of diamonds – Part 2 – https://ethica.diamonds/blogs/news/the-history-of-diamonds-part-2

[32] Mary Frances Gerety – Wikipedia – https://en.wikipedia.org/wiki/Mary_Frances_Gerety

[33] Hope Diamond – Wikipedia – https://en.wikipedia.org/wiki/Hope_Diamond

[34] Synthetic diamond – Wikipedia – https://en.wikipedia.org/wiki/Synthetic_diamond

[35] Tracy Hall – Wikipedia – https://en.wikipedia.org/wiki/Tracy_Hall

[36] The Legend of the Hope Diamond – https://www.capetowndiamondmuseum.org/blog/2013/12/the-legend-of-the-hope-diamond/

[37] Our history – De Beers Group – https://www.debeersgroup.com/about-us/our-history

[38] Diamond Portraits: Erasmus Stephanus Jacobs – https://www.ehudlaniado.com/home/index.php/news/entry/diamond-portraits-erasmus-stephanus-jacobs

[39] Botswana – De Beers Group – https://www.debeersgroup.com/about-us/our-operations/our-mines/botswana

[40] Argyle diamond mine – Wikipedia – https://en.wikipedia.org/wiki/Argyle_diamond_mine

[41] Jwaneng – the untold story of the discovery – http://www.scielo.org.za/scielo.php?script=sci_arttext&pid=S2225-62532019000200010

[42] Canadian diamonds – Wikipedia – https://en.wikipedia.org/wiki/Canadian_diamonds

[43] The Argyle Mine – Australian Pink Diamond Exchange – https://australianpinkdiamondexchange.com.au/blogs/education/the-argyle-mine

[44] House of Royal Asscher – https://royalasscher.com/pages/house-of-asscher

[45] Jwaneng diamond mine – Wikipedia – https://en.wikipedia.org/wiki/Jwaneng_diamond_mine

[46] Argyle Pink Diamond Mine | Argyle Pink Diamonds – https://argylepinkdiamonds.com.au/mine/

[47] Synthetic Diamonds: From Dark Industrials to Bright Gems – https://www.gia.edu/gia-news-research-synthetic-diamonds-dark-industrials-bright-gems

[48] Exclusive: Diamond Company Cecil Rhodes Founded – https://www.newsweek.com/oxford-university-cecil-rhodes-race-racism-diamonds-de-beers-1511938

[49] Ekati Diamond Mine – Wikipedia – https://en.wikipedia.org/wiki/Ekati_Diamond_Mine

[50] Ekati diamond mine – a timeline – https://www.mining-technology.com/projects/ekati-diamond-mine-a-timeline/

[51] Ekati Mine | EROS – https://eros.usgs.gov/earthshots/ekati-mine

[52] A tagline is forever | The Marketing Society – https://www.marketingsociety.com/the-library/tagline-forever

[53] Diamond Mines, Northwest Territories, Canada | EROS – https://eros.usgs.gov/earthshots/diamond-mines-northwest-territories-canada

[54] House of Royal Asscher – https://royalasscher.com/pages/house-of-asscher

[55] Diavik – https://www.riotinto.com/en/operations/canada/diavik

[56] Cullinan Mine ♦ Petra Diamonds – https://www.petradiamonds.com/our-business/our-operations/cullinan-mine/

[57] Not directly cited but widely known event

[58] Botswana Celebrates 50 Years – https://diamondsdogood.com/diamonds-transform-botswana-empower-youth/

[59] Asscher Cut Diamonds – https://www.berganza.com/feature-asscher_cut_diamonds.html

[60] Why did Argyle diamond mine Close? – https://pinkkimberley.com.au/blogs/education/why-did-argyle-diamond-mine-close

[61] Mines – NWT & Nunavut Chamber Of Mines – https://www.miningnorth.com/mines

[62] Argyle Pink Diamond Mine | Argyle Pink Diamonds – https://argylepinkdiamonds.com.au/mine/

[63] Canada’s first diamond mine, Ekati – https://www.canadianminingjournal.com/news/canadas-first-diamond-mine-ekati-reaches-historic-100-million-carats/

[64] Ekati Mine – Burgundy Diamond Mines Ltd – https://burgundydiamonds.com/ekati-mine/

[65] Jwaneng Diamond Mine, Botswana – https://www.mining-technology.com/projects/jwaneng-diamond-mine/