This book investigates the historical development of the South African diamond industry, focusing on how a localized mining rush evolved into a sophisticated international monopoly. Colin W. Newbury, a scholar of colonial and economic history, utilizes extensive primary source material from public and mining company archives to trace the transition from competitive extraction to the centralized control of the Central Selling Organization. The work examines the interplay between corporate strategy, political influence, and global market regulation during the formative decades of the industry.

Historians and economic researchers view this text as a definitive account of the institutionalization of the diamond trade. Readers frequently note the academic density of the prose and the rigorous archival research that supports the author's conclusions.