De Beers expects to have fewer sightholders going forward, and it will work closer with them on polished sales, CEO Al Cook told diamond industry analyst Edahn Golan in an interview at the Facets 2024 conference.
The company currently has 69 sightholders, but “we want to move from quantity to quality,” said Cook. “We would like to have fewer sightholders that we have deeper relationships with,” he said. Cook said De Beers plans to sign new contracts with its sightholders in 2026—and they will include new “partnerships” to sell polished.
“We are working with our sightholders to evolve our rough diamond sales into polished diamond sales,” he said. “We are looking at what kind of polished partnerships we can put together.… In addition to the way we’ve been selling rough diamonds for decades, [we want to see] what we can do to get the premium that we believe diamonds from countries like Botswana deserve.”
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