(FORTUNE Magazine) – By birthright, Nick Stein should have been in the diamond trade. Born in Johannesburg and raised in Toronto, he would have been the third generation of his family to earn a living wholesaling the precious stones. Instead he spent a year in the family business before deciding to go to journalism school. Now a feature writer at FORTUNE, Nick convinced us that there's a worthy story in the reshaping of diamond giant De Beers. (How timely! As we went to press, De Beers announced a possible change of control.) Reporting his story for more than three months, Nick traveled across Africa with Paris-based photographer Derek Hudson, piecing together a fascinating deconstruction of the modern diamond business, which in some ways is still rooted in centuries-old tradition and in others is rapidly evolving into a modern branding and marketing story. "I probably spent more time negotiating with De Beers for access to take pictures than I did reporting the story," Nick says. And as you'll see, his efforts paid off. Vivid images of life in the mines and in the factories match Stein's deep knowledge of the industry and his sparkling prose. How much did it help to be from a diamond family? "You're either part of the club or you aren't," says Nick. "I think being able to apply what I've learned about journalism to the diamond DNA I already had made a big difference." From the fields of Namibia to New York City's 47th Street, it's a tale well worth following.