DiamondBuzz
De Beers offers rough diamond discounts of 10% to 20% in secret deals
Multiple industry sources report that De Beers has secretly offered rough diamond discounts of 10% to 20% to a select group of sightholders, a departure from its usual practice of uniform pricing. These “secret deals” have not been officially confirmed by De Beers but are widely discussed within the industry.
The selective discounts appear aimed at quickly moving inventory and generating cash flow, given the company’s financial losses and pressure from Anglo American to improve performance.
Market Reaction: This selective discounting is unprecedented for De Beers and risks alienating sightholders who were not offered these preferential terms, potentially undermining trust and long-term relationships within its customer base.
The company is attempting to reduce a rough diamond stockpile estimated at $2 billion, the largest since the 2008 financial crisis, as global demand remains weak and manufacturers are hesitant to restock.
De Beers’ consolidated rough diamond revenue for the first two sights of 2025 dropped 44% year-over-year, with the average realized price per carat falling by 38%. The company has also cut its 2025 production forecast by up to 40%, now targeting 20–23 million carats, down from an initial 30–33 million.
Strategic Implications
Short-Term Cash Flow:
Long-Term Risks: The lack of transparency and favoritism in discounting could damage De Beers’ reputation for fairness and erode the loyalty of sightholders not included in the deals. This could have lasting effects on its ability to maintain a stable, committed customer base.
Industry Impact: The move signals ongoing distress in the natural diamond sector, with persistent oversupply, weak demand, and heightened competition from lab-grown diamonds contributing to industry-wide price declines.
Conclusion
De Beers’ decision to offer significant, selective discounts on rough diamonds marks a notable shift in its sales strategy, reflecting the severity of current market challenges. While this may provide short-term relief in reducing stockpiles and supporting cash flow, it introduces risks to long-term customer relationships and market stability. The industry will closely watch how De Beers manages these tensions and whether transparency and trust can be restored among its sightholders.
Related
How might these discounts impact De Beers’ long-term relationships with sightholders
What are the potential risks for De Beers if these discounts become public
How does De Beers determine which sightholders receive these special discounts
What strategies can De Beers use to manage the stockpile effectively
How might these discounts affect the overall diamond market
DiamondBuzz
Belgian Prime Minister Bart De Wever opens expanded HRD Antwerp laboratory in Mumbai
HRD Antwerp is increasing its research capacity in Mumbai by 30%. The official opening, which takes place as part of a two-day visit by Prime Minister Bart De Wever to India, marks an important next step in the growth of HRD Antwerp in India
In the presence of Belgian Prime Minister Bart De Wever, HRD Antwerp, Europe’s leading authority in diamond and jewellery grading and a subsidiary of the Antwerp World Diamond Centre (AWDC), officially opened its renovated and significantly expanded laboratory in the Bandra Kurla Complex (BKC) in Mumbai, India. Thanks to the expansion, HRD Antwerp is increasing its research capacity in Mumbai by 30%. The official opening, which takes place as part of a two-day visit by Prime Minister Bart De Wever to India, marks an important next step in the growth of HRD Antwerp in India, one of the world’s leading centres for the trade and cutting of natural diamonds.
For HRD Antwerp, a grading report is not an administrative document but a guarantee of trust, transparency and authenticity. As an independent, neutral party between science, industry and consumer, HRD Antwerp is a worldwide guarantor of objective and reliable diamond and jewellery grading, a principle the organisation has upheld since its founding. HRD Antwerp was established in 1973 and has been active in India since 2012. Today it serves around 1,500 clients there, including jewellery manufacturers and retailers, as well as companies that produce and trade cut diamonds.
The Indian branch now accounts for 59% of HRD Antwerp’s total group revenue and is expected to grow by 15.4% this year, compared with a projected growth of 12.6% for the group as a whole. Jewellery grading is an important growth driver in this respect: as much as 47% of HRD Antwerp’s total revenue increase comes from that segment.
“As the authority in grading reports for natural diamonds and diamond jewellery, and in research into natural diamonds, we are already firmly established in India today”, says Paul De Wachter, CEO of HRD Antwerp. “India remains the world’s most important centre for diamond cutting. For a diamond laboratory such as HRD Antwerp, which provides cut natural diamonds with an independent and objective grading report, it is therefore essential to keep investing in this market.”
Thanks to the expansion, HRD Antwerp in Mumbai can now examine and grade up to 2,000 diamonds per day, a capacity increase of 30%. To support this additional capacity, HRD Antwerp is recruiting 40 additional employees to work full time. The investment underlines HRD Antwerp’s confidence in the Indian market and strengthens the longstanding cooperation between Belgium and India within the international diamond and jewellery sector.
During the opening, Prime Minister Bart De Wever was given a tour of the renovated office. He was shown the diamond grading process and was able to examine a diamond up close himself using a microscope. The demonstration was provided by HRD Antwerp’s Indian experts.
Alongside the Prime Minister, also present were Paul De Wachter, CEO of HRD Antwerp, Ramakant Mitkar, Managing Director of HRD Antwerp India, Chirag Shah, Vice Chairman of AWDC, Didier Vanderhasselt, Belgian Ambassador to India, and Frank Geerkens, Consul General of Belgium in Mumbai.
Paul De Wachter, CEO of HRD Antwerp: “The visit of our Prime Minister underlines the importance of cooperation between Belgium and India within the global diamond sector. India and Antwerp together form two indispensable links in the international diamond chain. With this expansion, we are investing not only in additional capacity, but above all in the future of our cooperation with the Indian diamond and jewellery sector.”
Bart De Wever, Prime Minister of Belgium wrote the following message in HRD Antwerp’s guestbook during his visit: ” Sicut adamas fulget, ita fiducia inter gentes monet. As a diamond shines, so trust endures between nations “
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