Wernher Beit & Co

Sectors:

  • Extraction Gold extraction
  • Distribution - wholesaling, broking, market trading, etc Precious stones distribution inc diamonds
  • Extraction Precious stones extraction inc diamonds

Notes:

Traced origins to Jules Porges & Co, a Paris based diamond dealing business with important interests in South African diamond mines. (Sir) Julius Wernher, 1850-1912, and (Sir) Alfred Beit became associated with Porges's business, Beit having represented it at Kimberley. On Porges's retirement the business in late 1880s became Wernher Beit & Co and was represented at Johannesburg, 1887-1910, by H Eckstein & Co. Business expanded from diamond extraction/trading to gold extraction/trading. In 1911 control of the business passed to Central Mining & Investment Corp Ltd. (Sir) Lionel Phillips, 1855-1936, was a central figure in these businesses being a partner in Wernher Beit and Ecksteins and chairman of CMIC from 1915. WB&Co was close to De Beers from the 1880s when Beit joined with Cecil Rhodes to develop the De Beers diamond mining business.

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