Industry News by Nemesis

Alrosa Holds First Sale After Alliance Member List Update

February 2, 2020

 

Alrosa has held its first trading session following the expansion of its Alrosa Alliance client list. The company added 15 new members this month, increasing the total number of Alrosa Alliance members to 76. Among the new members are four jewelry companies and 11 clients specializing in industrial rough diamonds.

 

Meeting the requirements of Alrosa Alliance is an essential condition for companies wishing to become Alrosa's long-term clients.

 

Alrosa explained that adding the industrial diamond companies as Alliance members will help to distinguish their products from lab-grown diamonds. 

 

Evgeny Agureev, Deputy CEO of Alrosa, said the company has also updated its list of Alliance members nominated for signing long-term agreements in the future. The list comprises four spot buyers of gem-quality rough diamonds and one buyer of industrial rough diamonds.

 

Alrosa's long-term contracts guarantee volumes of monthly supplies, product mix and a possibility to purchase additional batches of rough diamonds. Long-term contracts account for up to 70 percent of all Alrosa's sales and all of the mining company's long-term clients are Alrosa Alliance members. 

 

Alrosa's current three-year contracts are due to expire this year.

 

Source: Idex

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