De Beers is significantly tightening its circle of authorised buyers as it prepares for a fresh cycle of supply agreements set to begin on 1 July. According to industry reports, more than 20 companies have been dropped from the current sightholder list as part of the restructuring.
The updated roster is expected to shrink to roughly 45 sightholders, compared with 69 at present, although the final count may differ depending on how companies with multiple business divisions are classified. The reduction appears more substantial than earlier market expectations, signalling a firmer move toward consolidation.
Beyond the numbers, the reshuffle also indicates a shift in geographic representation. Traditional trading hubs such as New York and Israel are believed to see reduced participation, while India appears to be gaining ground, with at least one new entrant reportedly joining the list.
Edahn Golan noted that the changes reflect evolving dynamics in the global diamond trade, where manufacturing and demand centres continue to shift.
De Beers has not officially disclosed the names of the retained or removed companies, stating that the final sightholder list will be made public once the new contracts come into force. The current agreements, originally signed in 2021, have been extended multiple times and are now set to conclude in June 2026.
The latest move underscores a longer-term strategic direction for De Beers, which has steadily reduced its client base over decades—from hundreds of sightholders in the 1970s to a far more selective group today—aimed at improving efficiency, strengthening partnerships, and aligning supply more closely with market realities.
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