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World's Largest Diamond Group: De Beers, originally of South Africa, celebrated its centenary in 1988. It is a large international group concerned directly and indirectly with every aspect of the diamond sector. Currently, the group owns and operates sixteen diamond mines in South Africa, South West Africa/Namibia, and Botswana, where it is in partnership with the Government. Lately De Beers has offered to establish a subsidiary in India and help in exploring and mining diamonds here. Now De Beers has been converted into a private company with headquarters in London, U.K.

New Holding Company Formed: An internal restructuring of shareholders interests has taken place since the year end. DB Investments, the holding company of De Beers Consolidated Mines Limited (DBCM) and De Beers Centenary AG (DBCAG), has changed its name to De Beers Societe Anonyme (DBsa) and a new company called DB Investments has been created by the shareholders (Anglo American pic, Central Holdings Limited and Debswana Diamond Company) to hold their interest in DBsa. The restructuring will have no effect on the operations or the cash flows of the De Beers Group. The open pit at Finsch diamond mine, South Africa.