De Beers Ditches 10 Sight Holders in Major Shake-up

By John Jeffay / January 17, 2021 / www.idexonline.com / Article Link

(IDEX Online) - De Beers has reportedly ditched around 10 of its 80 Sight holders as it seeks to exert more control over diamond pricing.It has also introduced new contracts dividing buyers into three categories - dealers, manufacturers and integrated retailers - as it embarks on a huge and much-heralded shake-up of the way it sells rough.The UK-based miner aims to put its diamonds into the hands of those who will add most value in a bid to strengthen the pipeline and eliminate inefficiencies.It wants fewer companies specializing in each category of diamond, so they can better weather storms such as the global pandemic, and maintain control over prices.Some international buyers will reportedly have to switch manufacturing to countries where diamonds are mined  -  rather than India -  to retain their Sight holder status. The company contacted its Sight holders on Wednesday to tell them about the changes, sources told the Bloomberg news website.

Recent News

Gold and silver price ETFs see major net outflows

November 04, 2025 / canadianminingreport.com

Gold stocks decline by less than metal price

November 04, 2025 / www.canadianminingreport.com

A shift to the later stages of gold and silver bull markets

October 27, 2025 / www.canadianminingreport.com

Gold stocks plunge on metal drop

October 27, 2025 / www.canadianminingreport.com

Gold stocks still up after pullback late in the week

October 20, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok