Alrosa inks long-term diamond supply deals with 67 clients

Russian miner Alrosa (MCX:ALRS), the world’s top diamond producer by output, said Tuesday it had signed 67 long-term contracts for the sale of gem quality and industrial rough diamonds.

Twelve of those agreements, said the miner, are with Russian companies and include three new clients – Aives, Diapur and Kristalldiam.

Apart from long-term deals, Alrosa also sells rough diamonds in almost equal shares at auctions and under spot contracts.

The company is also considering another 11 companies as potential candidates for signing long-term agreements with. Of them, nine are potential long-term buyers of gem quality rocks and two – buyers of industrial stones.

Long-term contracts form the basis of the Russian miner’s sales policy, accounting for up to 70% of sales of diamonds dug by the company. The contracts guarantee volumes and assortment of monthly supplies, as well as the possibility to purchase additional batches of rough diamonds.

Apart from long-term deals, Alrosa also sells rough diamonds in almost equal shares at auctions and under spot contracts.

In a separate statement, the company announced it would hold an auction for the sale of special size rough diamonds over 10.8 carats at the International Diamond Week in Israel (IDWI), organized by the Israel Diamond Exchange (IDE) on February 5 – 7.