Russian diamond mining giant Alrosa expanded the long-term customer list for the three-year contract period 2018-2020, and has added two Belgian companies to its ALROSA ALLIANCE. Participants in the ALLIANCE obtain the right to use the logo that confirms not only regular rough diamond supplies from ALROSA, but also the reputation of a client as a reliable and trusted participant of the world diamond complex. Becoming an ALROSA ALLIANCE participant makes the company a candidate to potentially sign a long-term agreement. Six of them obtained long-term customer status in the current three-year contract.
Chow Sang Sang Jewelery (China), Kapu Gems (India), Mohit Diamonds (India), VD Global (India), M. Suresh Company (the UAE) and Richold SA (Switzerland) joined the list of ALROSA’s long-term clients. Alrosa now counts 59 long-term contracts for gem-quality diamonds and 10 contracts for technical diamonds. In addition, two Belgian companies – H.D. Diam BVBA and IGC Group NV (former spot clients of ALROSA) supplemented the list of candidates for the possible conclusion of long-term agreements and will sign ALROSA ALLIANCE agreements.
“Long-term contracts form the basis of ALROSA’s sales policy accounting for up to 70% of sales of diamonds mined by the company," said Evgeny Agureev, Member of the Management Board, Director of the United Sales Organization at ALROSA. "We confirm the inviolability of ALROSA ALLIANCE principles and are interested in diversifying our client base, which has grown compared to last year. At the same time, we focus on confirmed manufacturers of polished diamonds and products with them. Since 2018, the company has a new three-year contract period. Following the results of the first year, we revised the list of long-term clients. Six companies, including the largest representatives of the jewelry industry, confirmed their trading activity, being the most effective of all candidates for inclusion in long-term clients list. At the same time, several companies dropped out from the list without confirming the effectiveness of their work with ALROSA.”
Long-term contracts guarantee volumes and assortment of monthly supplies, as well as the possibility to purchase additional batches of rough diamonds. This form of cooperation provides the company and its clients with stable supplies of rough diamonds and protects against the volatility in diamond prices on the world market.