Based on the results of the previous contracting period, ALROSA has updated its list of trusted clients – members of the ALROSA ALLIANCE. The company said the new list will be effective from 1 January 2022 together with an updated system of long-term contracts.
The members of the ALROSA ALLIANCE are a group of reliable ALROSA clients with high standards of business conduct and an in-depth understanding of the diamond market. Compliance with the ALROSA ALLIANCE principles is mandatory for any company aspiring to the status of long-term ALROSA client.
In the new 2022-2024 contracting period, the ALROSA ALLIANCE will include 51 buyers of gem-quality diamonds and 10 buyers of industrial diamonds.
In 2021, ALROSA approved a new version of its regulations on the procedure and terms of sale of natural diamonds, setting out the key principles of ALROSA’s commercial relationships with buyers. The document subdivides the clients and respective diamond supply contracts into three categories depending on the nature of the business: retail, diamond cutting, and polishing, and trading.
“ALROSA sets great store by the stability of rough diamond supply, satisfying confirmed demand and minimizing speculative sentiments that can undermine the market. We have therefore updated the way in which we interact with clients, placing the focus on creating added value after the sale of the diamonds. Working on this basis with the updated list of ALROSA ALLIANCE members will ensure the stability of supply for both the clients and the company, while also helping to balance supply and demand on the market,” said Evgeny Agureev, Deputy CEO of ALROSA.
Vladimir Malakhov, Rough&Polished
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