Russian diamond miner ALROSA held an annual meeting with its long-term clients in Antwerp on February 7. It was the first meeting of the new three-year client period, which started in January 2018, and the choice of Antwerp as its setting was a logical one, as the majority of ALROSA's long-term clients are based in the diamond capital, and about half of the miner's entire business - some $2 billion per year - is conducted in Antwerp. The meeting was followed by an "ALROSA Fancy Night" where customers, industry bodies and ambassadors were treated to a display of the unique colored diamonds mined by the company last year in Yakutia, including the largest pink stone ALROSA has ever found, weighing 27.85 carats, a yellow diamond weighing 34.17 carats and a lilac 20.18-carat rough diamond.
In January 2018, ALROSA signed long-term agreements with 56 Russian and foreign companies for the purchase of gem-quality diamonds, and 11 contracts for industrial diamonds. During the meeting, representatives of all these companies had an opportunity to discuss with ALROSA’s management their work in the new contract period, trends and challenges of the global diamond market. ALROSA also provided information on the company’s 2017 results and its production and sales plans for 2018. “Long-term contracts will remain the main principle of ALROSA’s sales policy", said CEO Sergey Ivanov. He noted that they are, "a key to the stable development both of our business and business of our clients. I want to assure that we will strive to ensure the Company's marketing policy is as transparent as possible so that our clients have the guarantees of equal access to rough diamonds."