Russian diamond mining giant ALROSA has formed a list of long-term clients for the new contract period 2018-2020. From January 15 to January 19, 2018, the Company’s long-term clients will participate in the first trading session under the new long-term contract. Long-term contracts form the basis of ALROSA sales policy, accounting for up to 70% of sales of the diamonds the company mines. The contracts guarantee volumes and assortment of monthly supplies, as well as the possibility to purchase additional batches of rough diamonds. In this way, ALROSA provides its clients with stable supplies of rough diamonds and protects against the volatility in diamond prices on the world market.
ALROSA has formed a balanced client base from the largest market participants represented in different geographical areas, the company notes. The focus of sales policy on final manufacturers of polished diamonds and representatives of large jewelry retail is increasing. One of the determining factors for long-term clients selection is trade activity with ALROSA, particularly in periods of low market demand. All long-term clients of ALROSA go through a rigorous qualification based on a number of legal and financial criteria.In addition, long-term clients must comply with the principles set in the Guidelines on Responsible Business Practices, which include, inter alia, transparency and disclosure, anti-corruption, adherence to the Kimberley Process principles and observance of human rights. The company has told us that the complete list of clients is available on ALROSA sales website later in January.