Brown-colored diamonds constituted a significant part of the diamond production, and were predominantly used for industrial purposes.
However diamond production increased making the country Africa's seventh largest producer by 2008.
When Rhodes died in 1902, De Beers controlled 90% of the world's diamond production.
African diamond production increased by nearly 51% in 2005 compared with that of 2000.
In 2005, the global value of rough diamond production amounted to $12.7 billion, of which Africa accounted for about 60%.
Both men knew that the diamond production at the Namib was excellent.
Corruption and smuggling reached such a level that official diamond production dropped significantly.
The initiative now governs diamond production and importation in 70 countries.
Diamond has been the leading component of the mineral sector since large-scale diamond production began 25 years ago.
South Africa also accounted for nearly 5% of the world's polished diamond production by value.