There are long-term agreements with 47 companies, 10 of them became long-term clients for the first time and approved themselves as reliable partners in terms of tenders and spot sales,
Alrosa
said in a statement.
Russian diamond mining giant Alrosa
has announced its list of long-term clients for the 2015-2017 contract period. On 19-23 January, the company’s new long-term clients held their first trading session.
The long-term agreements are the main principle of
Alrosa
’s sales policy; 70% of its rough diamonds are sold under long-term contracts. The contracts guarantee monthly supply of goods in pre-agreed volumes and assortments, as well as an option to purchase an extra range of goods.
This guarantees stable supplies of rough diamonds and provides a hedge against diamond price volatility on the diamond market.
Alrosa
has formed a sustainable client base consisting of the largest market participants, including diamond manufacturers and major jewelry retailers.
Alrosa
's long-term clients are strictly selected according to a number of legal and financial criteria. The long-term clients must adhere to the Guidelines on Responsible Business Practices which include transparency and information disclosure, anti-corruption policy, compliance with Kimberley Process requirements and respect for human rights.
Selected long-term clients are entitled to use the
Alrosa
Alliance trade mark which confirms both the signed contract for diamond supply and the client’s reputation as reliable and trusted partner.
