Royal Diamond Company
| This page is a work in progress by its author(s) and should not be considered final. |
| Royal Diamond Company Shariku Maliki Maseti | |
| |
| Motto | Masetim sa ubadi Diamonds are forever |
| Type | Public |
| Traded As | Komodu Stock Exchange: RDIC |
| Founded | 18 September 1888 |
| Founder | Ali Muhammadu |
| Headquarters | The Royal Diamond Company Building, Komodu |
| Country of Origin | Hama |
| Area Served | Itur, Borea and Yasteria |
| Key people | Amida Muhammadu (CEO) |
| Industries | Diamonds |
| Revenue |  30 billion (2289)
|
| Operating Income |  20 billion dollars (2289)
|
| Profit | 10 billion dollars (2289)
|
| Total Assets | 100 billion dollars (2289){
|
| Total Equity | 80 billion dollars (2289)
|
| Owner | Crown of Hama (20%), Muhammadu Trust (10%) and Public (70%) |
| Number of Employees | 50,000 |
| Divisions | Diamond Extraction, Diamond Cutting, Jewelry Making |
| Notes | |
| Homepage | http://www.diamonds.com |
The Royal Diamond Company (Hamanese language: Shariku Maliki Maseti) is a company from Hama, headquartered in Komodu, that produces diamonds.
Contents
History
The Royal Diamond Company was founded by a diamond prospector named Ali Muhammadu from Hama. He discovered diamonds in Hamanian Itur in 1860. He purchased an exclusive license to prospect for and grant permits to mine diamonds in Itur for 20 years in return for royalties to the state. With a major capital injection from interested investors such as the King of Hama, he was able to begin underground mining. This encouraged industrialization of the area and the development of towns as prospectors came to the land, hoping to get permits to prospect for diamonds. The Royal Diamond Company was able to control the sale of diamonds by implementing regulations and levies. It effectively gained a monopoly over the supply of raw diamonds in Southern Itur. It grew to become the largest producer of diamonds in the world.
Divisions
The Royal Diamond company has four primary divisions: jewelry, mining, and cutting (and polishing). The cutting and polishing division prepares diamonds for the jewelry division or prepares diamonds for use in industry. The jewelry division creates jewelry. The mining division extracts diamonds.
Leadership
The company is run by the Board of Directors. The Chairman presides over, prorogues and convenes meetings of the Board of Directors and the Annual General Meeting. The Chief Executive Officer runs the daily affairs of the business and handles administration. He presents a report to the shareholders at the Annual General Meeting. The Annual General Meeting elects the board every year. An early Annual General Meeting can be convened by the majority shareholders to force an early election of the Board and the Chief Executive Officer. There are other portfolios on the board that are prominent. These are the Marketing Director, the Financial Direction and the division directors.
Criticism
The Royal Diamond Company has been criticized for its monopolization of the diamond industry. There have been rumors of corporate malpractice, fraud and coercion of its staff and competitors to control the market and hide these secrets. No substantial cases have, thus far, been successfully adjudicated by the courts. The company has been accused of using its financial muscle to lobby the government to loosen existing regulations and stymy future regulations. The government and the company deny all accusations. The company has also been accused of using its influence with the Hamanian Gemological Institute to stifle competition and academic support of the synthetic diamond sector. It has been accused of leading a propaganda campaign against the synthetic diamond sector. It has also been accused of price fixing whereby it keeps supply low to keep prices high.
