I traveled to South Africa earlier this month to speak at an Institute of Directors (IOD) event in Johannesburg. In addition to interacting with seasoned corporate governance leaders from this important country, I was lucky enough to learn a bit more about the long history of diamond mining in South Africa.
The Eureka Diamond, the first diamond found in South Africa in 1867, created a massive disruption in the diamond trade. Its discovery along the Orange River — its pre-cut weight was an impressive 21.25 carats — revolutionized the industry. Within 10 years of the diamond’s discovery, South Africa became the center of the industry and global diamond production increased tenfold.…