South African diamond cartel De Beers has announced that it will be transferring a 26% share of its mining operation, De Beers Consolidated Mines, into a holding company that is half-owned by De Beers employees and pensioners. (Which we suppose could be mathed out to mean they are still 85% evil, depending on who owns the other half of the holding company.)

A step in the right direction, but diamonds are still tacky. That is until, of course, this whole synthetic diamond thing works out. Then The Consumerist will be decked in nigh-on indescrutible layers of glittering ice.

Black firm gains De Beers stake [BBC via MeFi]

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