What reputation is required from De Beers' sightholders?

The requirement for De Beers' sightholders to have an excellent reputation in the industry is crucial because it reflects the integrity and reliability of the companies that are part of this exclusive group. Sightholders must not only demonstrate strong business acumen but also adhere to the ethical standards and commitments that De Beers upholds. Being recognized for their positive standing fosters trust and confidence among stakeholders, ensuring that the diamond trade operates within established guidelines that promote sustainability and ethical practices.

While strong historical ties to diamond mining, celebrity endorsements, or ownership of a diamond mine may have their merits, they do not necessarily equate to the broader industry reputation that is essential for maintaining the integrity of the diamond supply chain. An excellent reputation encompasses a commitment to ethical sourcing, transparency, and a track record of compliance with industry standards, which are foundational to being a sightholder with De Beers.