In the 1870s, miners began discovering huge veins of diamonds in South Africa, and the diamond market ice was finally broken. As diamonds had quickly become a pretty common commodity, mine owners realized they should make a new plan if they want to keep the high price of the gem. In 1888 several major South African mines merged to form De Beers Consolidated Mines, Ltd. The merge gave chance to effectively control the flow of diamonds from South Africa onto world markets. As a result, diamonds became rare and more valuable, so their popularity as the gem on engagement rings began to rise.