ALROSA President Sergey Ivanov held a meeting with US Jewelry Council President Ronald VanderLinden and Diamond Dealers Club of New York President Reuven Kaufman. Among the matters discussed was the reopening of Arcos USA, ALROSA’s trade office in New York, which has remained inoperative for a variety of reasons since 2016. Arcos USA is expected to resume its operations, including the trade in diamonds by the end of the year or early next year.
Ivanov said ALROSA was undoubtedly interested in a presence in the US, which was the world's largest diamond jewellery consumption market. He said ALROSA sought to develop cooperation in the US market, for not only rough diamonds, but polished as well. He said ALROSA was in the advantageous position of being able to offer a proof-of-origin audit trail.
ALROSA’s interactions in the US market include long-term contract sales of rough diamonds to polishing firms, spot purchases and tendered sales as well as bilateral and multilateral industry cooperation that included the World Diamond Council and promotion of the industry’s interests in the Kimberley Process.