Industry News by Nemesis

Alrosa Urges Promotion of Stones’ Russian Origin

March 25, 2018

 

Alrosa has encouraged its long-term clients to disclose the Russian origin of diamonds they buy from the miner. 

The company has urged its Alrosa Alliance members — clients that haved a rough-buying contract with the miner — to be open about where they get their diamonds from when selling them on to others. This includes “highlighting the exclusively Russian, natural and non-conflict origin of these goods,” the miner said. 

The company is asking members for full transparency in future transactions involving its stones, including written acknowledgement of the diamonds’ origin in sales agreements or invoices. 

The new recommendations form part of the Alrosa Alliance Guidelines on Responsible Business Practices, which the company released last week. 

“The establishment of a responsible diamond supply chain from mine to retail is an important element in ensuring transparency of the diamond industry as a whole,” the miner said. “Responsible supply chain is based on the principle of unconditional disclosure of information on [a diamond’s] conflict-free source and quality characteristics...at every stage of change of ownership, with the aim of promoting consumer confidence in diamonds.” 

Additionally, the miner has adopted the new international Diamond Terminology Guideline issued by nine industry bodies, including the World Jewellery Confederation (CIBJO), the Antwerp World Diamond Centre (AWDC) and the Diamond Producers Association (DPA). The instructions clarify proper industry wording, including the use of “diamond” in reference only to natural stones, and “synthetic” or “laboratory-grown” when referring to man-made gems. The miner has encouraged its clients to follow the same principles when talking about Alrosa diamonds.

 

Source: Rapaport

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