ALROSA announced that it has added six clients to its list of customers with long-term contracts taking the total number of companies that receive assured supplies of gem quality diamonds every month with guaranteed volumes and assortments to 59. In addition, ALROSA said that there are another 10 companies on its long-term list that have similar contracts for its industrial quality diamonds.

The new long-term customers are Chow Sang Sang Jewelery (China), Kapu Gems (India), Mohit Diamonds (India), VD Global (India) and M. Suresh Company (the UAE) and Richold SA (Switzerland). The list covers the three-year contract period 2018-2020.

The first five were ALROSA ALLIANCE participants from the beginning of 2018 and hence candidates for the possible signing of long-term agreements, while the sixth has appeared in the list for the first time.

ALROSA also said that it had added two Belgian companies – H.D. Diam BVBA and IGC Group NV (former spot clients of ALROSA) to the list of candidates for the possible conclusion of long-term agreements and will sign ALROSA ALLIANCE agreements with them.

Evgeny Agureev, Member of the Management Board, Director of the United Sales Organization at ALROSA, said, “Long-term contracts form the basis of ALROSA’s sales policy accounting for up to 70% of sales of diamonds mined by the company. 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.”

He added that the new three-year contract period client list was introduced in 2018, and it was revised in early 2019 based on the results of the first year. “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,” he said.

All ALROSA’s long-term customers are ALROSA ALLIANCE participants who acquired the right to use the relevant 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.

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, ALROSA stated.