Alrosa Trims Client List as it Introduces New ContractsDecember 09, 21
(IDEX Online) - Alrosa has ditched some of its long-term clients after announcing moves to provide buyers with a more tailored selection of rough diamonds.
The new list of Alrosa Alliance members - the elite group that buys around 70 per cent of the miner's output - is down from 59 to 51. It takes effect from January for three years.
The company has already announced the introduction of three different contracts - for retailers, manufacturers and traders, taking into account the specific business needs of each diamond consumer category, in addition to the client's purchase history.
"Alrosa sets great store by the stability of rough diamond supply, satisfying confirmed demand and minimizing speculative sentiments that can undermine the market," said deputy CEO Evgeny Agureev.
"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 stability of supply for both the clients and the company, while also helping to balance supply and demand on the market."
Pic courtesy Alrosa