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ALROSA Launches in Vladivostok to Target China Market

Mar 27, 2016 10:04 AM   By Rapaport News
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RAPAPORT... ALROSA will open a branch in the Russian city of Vladivostok, near the country’s border with China, in a bid to increase sales to Asia-Pacific nations and improve cooperation with companies in the region.

The launch, approved by the miner’s supervisory board March 20, is the first step in the creation of a Russian Diamond Centre within the Vladivostok Free Port opened last year, according to a statement March 24.

“The branch will be responsible for increasing ALROSA’s sales, developing regional coverage, and expanding cooperation with companies and clients from Asia-Pacific, first of all, China, Japan, Singapore, and other countries,” ALROSA said.

The initial displays and sales of ALROSA’s rough diamonds in the city are planned for August to September in the lead-up to the Eastern Economic Forum, which will take place in Vladivostok from September 2 to 3. At the forum, ALROSA display and auction products manufactured by Brillianty ALROSA, the miner’s cutting and polishing division. The center will later host trading in rough and polished diamonds focused on consumers in the Asia-Pacific region.

ALROSA will also use the branch to “collect information about the Asia-Pacific region from the point of view of the company’s interests.”

The launch of the Vladivostok special economic zone in October 2015 and relaxed visa requirements for foreign citizens were among the factors prompting ALROSA to open a branch in Vladivostok, the company added.

The lineup of the miner’s new supervisory board was also approved March 20, according to a separate statement.
Tags: Alrosa, mining, Rapaport News, Russia
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