De Beers is reportedly planning to further reduce the number of its sightholders.
The UK-based diamond company has been steadily cutting its sightholder count, which once peaked at 350, down to just over 60 today. This reduction is set to continue, with the company planning additional cuts starting in January 2026, according to a letter from De Beers sent last month.
The letter states that “sightholder selection for the new supply agreement will be determined by an objective selection and allocation process.” However, due to expected lower availability of diamonds under the sightholder model, the process is likely to lead to consolidation, resulting in fewer sightholders overall. This was cited by industry expert Avi Kravitz.
De Beers declined to comment on the matter.
Currently, about 53 international sightholders purchase rough diamonds from De Beers’ Global Sightholder Sales (GSS), with an additional 40 sightholders in Botswana and 14 in Namibia. Many companies hold sightholder status in multiple locations, bringing the total to approximately 60.
The number of De Beers sightholders peaked at around 350 in the 1970s. By 2001, that number had already halved, and further reductions followed as the company’s client structure evolved.
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