Cecil Rhodes - Diamonds

Diamonds

During his years at Oxford, Rhodes continued to prosper in Kimberley. Before his departure for Oxford, he and C.D. Rudd had moved from the Kimberley Mine to invest in the more costly claims of what was known as old De Beers (Vooruitzicht). It was named after Johannes Nicolaas de Beer and his brother, Diederik Arnoldus, who occupied the farm. After purchasing the land in 1839 from David Danser, a Koranna chief in the area, David Stephanus Fourie, Claudine Fourie-Grosvenor's forebearer, had allowed the de Beers and various other Afrikaner families to cultivate the land. The region extended from the Modder River via the Vet River up to the Vaal River.

In 1874 and 1875, the diamond fields were in the grip of depression, but Rhodes and Rudd were among those who stayed to consolidate their interests. They believed that diamonds would be numerous in the hard blue ground that had been exposed after the softer, yellow layer near the surface had been worked out. During this time, the technical problem of clearing out the water that was flooding the mines became serious. Rhodes and Rudd obtained the contract for pumping water out of the three main mines. It was during this period that Jim B. Taylor, still a young boy and helping to work his father's claim, first met Rhodes. After Rhodes returned from his first term at Oxford he lived with Robert Dundas Graham, who would later become a mining partner with Rudd and Rhodes.

On 13 March 1888, Rhodes and Rudd launched De Beers Consolidated Mines after the amalgamation of a number of individual claims. With £200,000 of capital, the company, of which Rhodes was secretary, owned the largest interest in the mine.