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RAPAPORT... ALROSA signed a long-term rough diamond supply agreement with Belgium-based Laurelton Diamonds, a subsidiary of Tiffany & Co. The deal was signed this morning in Moscow. ALROSA's president, Fyodor Andreev, said, “For ALROSA it is a priority to enter into direct long-term contracts with major companies involved in the manufacturing of final products – polished diamonds and jewelry. And we are pleased that the number of our regular customers is now joined by such a global brand with a long history, as Tiffany. In recent years, Laurelton was on repeated occasions among ALROSA’s buyers of rough diamonds under one-off contracts. The signing of a long-term agreement will make our partnership permanent and serve to increase the supply of diamonds to Tiffany.” Laurelton Diamonds has its own diamond-cutting facilities in Belgium, Vietnam, Mauritius, South Africa, Botswana and Namibia.
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