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CHAPTER VI
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The Diamond Story
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PART FOUR
THE WAR YEARS AND AFTER
1934-1957.
The fundamental technological factor which characterized the war years
was the enormous increase in the demand for diamonds for industrial
purposes, which revolutionized the position of 'bort', the diamond
material unfit for use as a gem and, therefore, somewhat of an
embarrassment to certain producers. Systematic research into extended
uses for bort began to be undertaken by the diamond industry, with
Ernest Oppenheimer's encouragement, in 1934, when the Diamond
Development Company was created in London: a little earlier Mr. Nevcn
of Antwerp had invented the 'Neven' process which involved the use of
crushed diamond: a new and important industry was ultimately to arise
as a consequence. The upswing in the demand for 'industrials' had
important consequences not only on the financial position of the
industry but also on the vexed question of the Diamond Corporation's
'quotas'; in the end industrial diamonds were exempted from quota
restrictions. Throughout the war period, Ernest Oppenheimer was much
concerned with negotiations with Government over the renewal and
reshaping of the agreements by which the rights of the various members
of the Diamond Producers' Association (including the Diamond
Corporation) were defined: further negotiations were necessary from
time to time in the post-war period also. An unexpected consequence of
the war was an uprush of demand for gem stones: in the end it was found
necessary to begin mining for gem stones again. The post-war period
witnessed an unprecedented demand for gem stones: the Diamond
Corporation could finally dispose of its pre-war stocks. At the same
time, serious problems were raised by the disorganization of the
world's monetary systems and by the problems of illicit mining and
illicit marketing of part of the output of West Africa, as well as by
the increase of production there and in Tanganyika. The rise of
independent African states has since brought about considerable changes
in the marketing systems of West Africa.
In
1956 Ernest Oppenheimer (then 76) celebrated his sixtieth year of
association with the diamond industry: in the last year of his life the
opening of the new diamond office in London gave him the opportunity of
summing up the past and expressing his hopes for the future.
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