Lebanon Diamond Engagement Ring Fashion 92

Lebanon Diamond Engagement Ring Fashion.

By Farzana Aamir.

A diamond rush was propelled in 1871, at which point Cecil Rhodes, the founder of De Beers, began buying small mining operators, and eventually De Beers Consolidated Mines was formed. By 1888, De Beers was the sole owner of all diamond operations in the country. At one time it was estimated that over 80 percent of the world’s rough diamonds passed through the Diamond Trading Company (a subsidiary of De Beers) in London, but presently the figure is estimated at around 40 percent.

In the early part of the 20th century platinum became a popular metal for engagement rings. However, platinum was soon declared a strategic metal during World War II, restricted to military purposes, whereby platinum diamond engagement rings practically disappeared from the market. The Great Depression also had a severe impact on diamond engagement ring sales, with sales dropping as much 50 percent.