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Tuesday, 18 September 2007
diamond setter. A person who pos¬sesses the training, experience, and skill to mount a fashioned diamond into items of jewelry using special equipment. See SETTER. diamond shovel. A small, stainless-steel shovel, with or without a han¬dle, used to facilitate the handling of large quantities of small Diamonds. diamond sieve. A round, perforated metal plate for rapid grading of loose, fashioned diamonds for size. A number of such plates are usually used, each having perforations of a different size. Diamond Syndicate. In the early days of the South African diamond fields, the word "syndicate" was used to refer to various groups of in¬dividuals and companies that held controlling interests in diamond pro¬duction and distribution. In 1893, a syndicate composed of 10 firms of¬fered to purchase all of the De Beers Company's diamonds. This seems to have been the embryo of the famous Diamond Syndicate that became so well known to jewelers in the early decades of the 20th Century as the price-fixing and market-controlling factor of the diamond industry. In various forms a diamond syndicate composed of different persons or firms functioned in this capacity until the crisis of 1929 demanded a mar¬keting organization of a more rigid type with greater capital. Although the term "syndicate" is no longer meaningful, it is often popularly applied to De Beers Consolidated Mines, Ltd., because it holds a con¬trolling interest in a number of diamond-mining companies and in companies that have buying con¬tracts with independent producers (including the Diamond Corporation Ltd.). See DE BEERS CONSOLIDATED MINES, LTD.
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