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 stocks outpace flat large caps

January 19, 2026 / www.canadianminingreport.com

TSXV gold producers' output growth for Q4/25 mixed

January 19, 2026 / www.canadianminingreport.com

Rising metals price volatility over past month

January 12, 2026 / www.canadianminingreport.com

Gold stocks surge ahead of equities on metal price gain

January 12, 2026 / www.canadianminingreport.com

Base metals outlook for 2026 opaque after decent rise last year

January 07, 2026 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok