Alrosa has named 58 companies that qualify for its long-term rough supply in 2020.
The annual reshuffle saw the mining company remove Belgium-based Blue Gems and Russia’s EPL Diamond from the roster, while it added Antwerp-headquartered IGC Group.
The program, known as the Alrosa Alliance, enables customers to obtain guaranteed monthly volumes of rough, granting stability both to the miner and its buyers. The arrangement accounts for up to 70% of Alrosa’s sales volume, and works in a similar way to De Beers’ sightholder system.
“Companies leave our client list if they do not meet the terms of the long-term agreement for some reason,” an Alrosa spokesperson said Thursday in an email to Rapaport News. “However, they can purchase rough diamonds from Alrosa through spot sales and tenders. Once these companies comply with necessary criteria, they may [apply for] a long-term contract again.”
IGC was previously on Alrosa’s list of candidates for future long-term contracts. The miner added four companies to that group this year, including two Israeli polished manufacturers: A. Dalumi Diamonds and Y. Dvash Diamonds, which is owned by Israel Diamond Exchange president Yoram Dvash. Belgium-based Arkot Diamonds has joined that roster, while Indian cutting firm M. Suresh Company, an existing long-term client, has also seen its unit in Vladivostok, Russia, added to the list of candidates.
Alrosa’s January trading session was the first with the new client list.
Alrosa’s new list of long-term clients, as published on its website:
Asian Star Co.
Brilliant Trading Co.
Bronner Trading Co.
Chow Sang Sang Jewellery Co.
Chow Tai Fook Jewellery Co.
Dali Diamond Company
Gomel MA Kristall
Hari Krishna Exports
KGK Diamonds (India)
Kristall Production Corporation
Laurelton Diamonds Belgium
M. Suresh Company
Niru Diamonds Israel
Penford (part of Diacor International)
Pluczenik Diamond Co.
Rosy Blue (India)
Sahar Atid Diamonds
Sheetal Manufacturing Co.
Shree Ramkrishna Exports
Signet Direct Diamond Sourcing
Star Diamond Group
Wing Hang Diamond Co.
Candidates for future long-term contracts
A. Dalumi Diamonds
M. Suresh Vladivostok
Y. Dvash Diamonds
Image: Alrosa’s Udachny mine in Yakutia, Russia. (Alrosa)
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