ALROSA’s  January trading session for its client companies was when the Company’s updated list of the members of the ALROSA Alliance became applicable.

“When a client becomes a part of ALROSA Alliance, it means that the client belongs to loyal buyers of rough diamonds,” the Company said, elaborating on the concept. “Meeting the requirements of ALROSA Alliance is an essential condition for companies wishing to become ALROSA’s long-term clients.”

Apart from being able to buy ALROSA rough on a regular basis, the other benefits accruing to members of the ALROSA Alliance is the right to use a relevant logo that confirms the client’s reputation as a reliable and trusted participant of the global rough diamond market.

Having decided to integrate the industrial diamonds consumers into the community, in January 2020, the ALROSA Alliance welcomed 15 new members and increased the  total number to 76. New members include four jewellery companies; and 11 clients specialising in industrial rough diamonds.

ALROSA emphasised that adding buyers of industrial rough diamonds to the ALROSA Alliance served to help responsible participants of the industrial rough diamond market, whose products meet Russian quality standards, to distinguish their products from lab-grown diamonds.

“Adhering to inviolability of ALROSA Alliance guidelines, we decided to expand these criteria to buyers of our industrial rough diamonds,” commented Evgeny Agureev, Deputy CEO of ALROSA. “We ran a check-up to include in the alliance 10 long-term clients and one spot buyer who purchase industrial rough diamonds from us and meet key requirements of ALROSA Alliance. We also completed another analysis of activity level and requirements of our long-term clients after the second year of the current contract period. Besides, we updated the list of ALROSA 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.”

Its long-term contracts, said ALROSA, guarantee steady monthly supplies of rough diamonds, a reasonable product mix and the possibility to purchase additional lots of rough diamonds. “This form of cooperation ensures the stability of rough diamonds sales for the diamond miner and its clients as well as the  protection against the volatility in diamond prices in the global market,” ALROSA emphasised.

Long-term contracts are the very basis of ALROSA’s sales policy, accounting for up to 70% of all sales. All ALROSA’s long-term clients are ALROSA Alliance  members. The current contract period is for three  years, from 2018 to 2020.