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ALROSA has significantly increased the amount of rough offered for sale

03 august 2009

As Rough&Polished was told by ALROSA, starting from July 2009 business trends on the global rough market made it possible for the company to renew its trading activity significantly increasing the amount of rough offered for sale.
Last month, the company’s sales on the market reached almost $150 million, the major part of which was covered by the long-term contracts concluded earlier. Further development of long-term trade relations with its customers is considered by ALROSA as one of the priorities in its selling activity. Last July, the company also resumed its supply of rough diamonds within a long-term agreement with Kristall, the biggest Russian diamond manufacturer. The latter plans to purchase at least $100 million worth of rough diamonds till the end of 2009.
ALROSA will resume its rough supplies to polished manufacturers in the Republic of Sakha (Yakutia).
The stable demand for large-size diamonds registered on the market during the last two months permitted the Russian diamond miner to resume regular international auctions for diamonds of particular size (+10.80 carats). The results of the first 2009 auction were summed up in Moscow on July 31. The company sold about $13 million worth of rough diamonds. The next auction is to take place in Antwerp, Belgium. The management of the Antwerp World Diamond Center has backed up the company’s decision to hold such an auction.
At the same time, ALROSA will pursue a responsible trading policy and particularly towards the amount of special-size rough offered at its auctions closely monitoring current trends on the market dealing with large-size diamonds.
Realizing the necessity to maintain the emerging positive trends on the market ALROSA is carrying on negotiations with the Russian government to continue its supplies to Gokhran. It was agreed that the State Repository of Russia will buy additional quantities of rough.