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Alrosa Prunes Client List for 2022

Dec 5, 2021 6:59 AM   By Rapaport News
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Alrosa has trimmed its roster of long-term clients for the miner’s new contract period, which will go into effect on January 1.

The company has selected 51 companies as members of its Alrosa Alliance, a group of vetted customers, it said Friday. Of these, 49 are full clients entitled to buy gem-quality rough on a recurring basis, while two are candidates for future long-term contracts. The period runs for three years through 2024.

In the previous cycle, which had been in place since 2018, Alrosa had 59 long-term customers, of which 53 were full clients and six were candidates, according to a list on its website. The Russian miner had planned to introduce a new contract this year, but delayed this because of Covid-19.

The company will also sell industrial diamonds to 10 companies, it said. Previously, nine businesses were long-term industrial customers, while an additional two were candidates for future supply.

The contract also sees Alrosa offer a more specific selection of rough to three types of customers: manufacturers, dealers and retailers. This will help the miner meet companies’ demand more precisely, using a system similar to the one De Beers adopted earlier this year.

“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,” said Alrosa deputy CEO Evgeny Agureev.

Image: An Alrosa worker inspecting rough. (Alrosa)
Tags: Alrosa, Alrosa Alliance, Evgeny Agureev, Long-Term Clients, long-term customers, Rapaport News, rough supply, Russia
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