DiamondBuzz
De Beers cuts Sightholder list by a third in landmark restructuring
More than 20 clients dropped as the miner reshapes its rough-diamond distribution network
De Beers has notified more than 20 of its 69 sightholders that their client relationships will not be renewed when new contracts take effect on 1 July 2026 — a reduction exceeding one-third of its trading roster and the deepest single-cycle cut in the company’s recent history.
The revised sightholder list stands at approximately 45 companies, varying slightly depending on how firms with multiple trading divisions are counted. New contracts will replace agreements originally signed.
The restructuring reflects a strategic pivot toward a leaner, more concentrated distribution model. Industry analyst Edahn Golan has noted that at least one new sightholder from India has been added to the roster, signalling a continued shift in rough-diamond purchasing toward South and East Asian cutting centres.
De Beers declined to confirm the full list of retained or terminated clients, stating through spokesperson David Johnson that the updated sightholder directory will be published on the company’s website when the new contracts commence in July.
At its peak in the 1970s, De Beers maintained a sightholder list of over 350 companies. The move to sub-50 clients marks a structural consolidation that mirrors broader pressures on the natural diamond trade, including sustained demand softness, competition from lab-grown stones, and margin compression across the midstream.
DiamondBuzz
Dubai Diamond Exchange Expands Board With Three New Appointment
New Board Appointments Strengthen DDE’s Expertise In Global Markets, Governance and Responsible Sourcing.
The Dubai Diamond Exchange (DDE), part of DMCC, has expanded its Board of Directors with the appointment of Neil Ventura, Weizhang Liang and Wafa Jaffery, strengthening its leadership across global diamond markets, governance and responsible sourcing.
The board will continue to be chaired by Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC. The new appointments are aimed at reinforcing Dubai’s position as a leading hub for the global diamond and precious stones trade.
Neil Ventura joins as Member and Secretary of the DDE Board. He brings more than 35 years of experience across mining, trading, jewellery and technology, having held senior roles at De Beers and Anglo American. He currently serves as Special Advisor to DMCC’s Precious Stones Ecosystem.
Weizhang Liang, former President of the Guangzhou Diamond Exchange and China’s Kimberley Process focal point for over 15 years, joins the board with extensive expertise in international diamond policy and the Chinese market. He also advised the UAE’s Kimberley Process Chairmanship in 2025.
Wafa Jaffery, a longstanding member of DMCC’s Precious Stones team, was elected to the Board of Directors of the World Diamond Council in 2026. She also serves on the Kimberley Process Task Force and the Responsible Jewellery Council Standards Committee.
Ahmed Bin Sulayem, Chairman of the Dubai Diamond Exchange, said:
The appointments would enhance the exchange’s ability to support the industry’s growth and evolution.
“The strength of the Dubai Diamond Exchange has always been built on the depth of expertise within DMCC’s precious stones ecosystem. These appointments reflect the calibre of leadership that DMCC has developed over many years and reinforce Dubai’s position as one of the world’s leading centres for the diamond and precious stones trade.”
The DDE is the world’s largest diamond tender facility and a major marketplace for rough and polished diamonds, coloured gemstones and pearls. Operating within DMCC, it provides infrastructure and trading facilities that connect miners, manufacturers, traders, financiers and retailers across the global diamond supply chain.
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