Print full article

Alrosa resumes diamond trading

SB_800px-Udachnaya_pipe
Alrosa is starting up diamond trading following strong sales at a tender last month. The company controls the Udachnaya Pipe open-pit mine (seen here) in Russia’s Sakha Republic.

Russian diamond mining company Alrosa is resuming its trading operations thanks to strong sales last month to suppliers under long-term contracts.

The global economic crisis and subsequent drop in demand led the company to stockpile goods earlier this year. But with its July sales coming in at $150 million US, Alrosa says it is restarting trading. OJSC (Production Association Kristall)—which has a long-term agreement with Alrosa—is planning on buying at least $100 million worth of rough before the end of the year. Alrosa will also resume supplying rough to local diamond manufacturers in the Sakha (Yakutia) Republic.

The news also comes following a tender of large size diamonds in Moscow last month that realized $13 million in sales volume. The next tender will take place in Antwerp with the support of the Antwerp World Diamond Centre (AWDC).

 

Leave a Comment

Comments

Your email address will not be published. Required fields are marked *