De Beers has once again postponed its much-anticipated sightholder shakeup, extending existing supply agreements until June 2026. The move leaves the diamond sector asking a hard question: is this about providing stability—or dodging the inevitable rise of lab grown diamonds?
Originally set to expire this year, the contracts will now run an extra six months. Spokesperson David Johnson framed the decision as a lifeline for midstream businesses caught in turbulence. “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 told JCK.
De Beers emphasized that the extension ensures “near-term stability and continuity” for sightholder customers. Clients have also been promised greater flexibility in selecting goods in upcoming allocations.
The delay, however, blindsided many. Industry insiders had expected a new sightholder list by Sept. 29—possibly cutting the 60-company roster by half. Instead, with Anglo American preparing to sell its 85% stake in De Beers, it seems the company’s executives chose to kick the decision further down the road.
This is the third extension in four years. Agreements signed in 2021 were supposed to end in 2023, but have since been pushed into 2024, then 2025, and now mid-2026. To remain on the list, sightholders must purchase at least $15 million annually, though whispers suggest major clients are quietly being offered “special deals” at deep discounts.
Meanwhile, as the natural diamond sector stalls, lab grown diamonds are moving fast—winning over younger consumers with transparent pricing, ethical sourcing, and future-proof appeal. While De Beers plays for time, the lab grown sector is already shaping the next chapter of the trade.
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