De Beers Extends Sightholder Contracts By Six Months

By Rob Bates | September 26, 2025

De Beers has extended its current sightholder supply agreements by six months, to June 2026, the company confirmed to JCK.

The contracts had been scheduled to expire at the end of this year.

Spokesperson David Johnson tells JCK: “Our focus is on the long-term success of the diamond industry, and we recognize that it continues to be a challenging environment for midstream businesses, particularly in light of the fast-evolving situation with U.S. tariffs.”

He adds that the extension will “provide additional near-term stability and continuity for our sightholder customers.”

De Beers also sent its clients a note promising they will have greater flexibility in what they buy in upcoming allocations.

Prior to this announcement, many in the industry expected that De Beers would unveil its new sightholder list on Monday, Sept. 29, and that it would cull its current 60-company roster by as much as 50%.

But with bidding heating up for Anglo American’s 85% stake in De Beers, some believe that De Beers executives ultimately decided to let the company’s new owner decide who to sell to.

This is the third time De Beers’ current client agreements have been extended; originally inked in 2021, they were meant to run through the end of 2023. That was extended through 2024 and then through 2025.

De Beers told sightholders last year that they needed to buy at least $15 million worth of goods annually to stay on the list. Yet in the current climate, it also has reportedly offered its biggest clients “special deals” at heavy discounts.

Top: De Beers sorters preparing a sight box (photo courtesy of De Beers)