ALROSA on Wednesday held its first meeting with long-term clients for the three-year contract period that began this January. The mining company had signed long-term contracts with 56 Russian and foreign companies for the purchase of gem-quality diamonds, and another 11 contracts for industrial diamonds at the beginning of this year.
Clients had an opportunity to discuss current trends and challenges of the global diamond market. ALROSA showed clients its 2017 results and outlined its production and sales plans for 2018. The provisions for clients to adjust purchase volumes and rough diamond purchase categories on an annual basis were also gone into.
The diamond mining giant also outlined its scheduled trading sessions and auctions for the year.
ALROSA Chief Executive Sergey Ivanov reiterated that long-term contracts would underpin its global sales policy as they offered a path to the stable development of business for both the company and its clients. He assured clients that the company’s marketing policy would be made as transparent as possible and guarantee all clients equal access to rough diamonds.
During the meeting, ALROSA also showed its clients the unique coloured diamonds it had mined last year in Yakutia, including a 27.85-carat pink, a 34.17-carat yellow and a 20.18-carat lilac stone. ALROSA plans to cut and polish these stones at its own Diamonds ALROSA facilities.