Alrosa, Kristall sign 2-yr diamond supply contract
MOSCOW. March 20 (Interfax) - Alrosa has signed a two-year contract to supply rough diamonds to diamond-cutting plant Kristall of Smolensk, Kristall said.
The companies agreed to keep current monthly rough diamond procurement volumes in place. No other details were disclosed.
"Alrosa took our wishes regarding the range of diamonds, corresponding to our market niche and which can be processed most profitably into account," said Maxim Shkadov, the head of Kristall.
The previous, three-year contract with Alrosa lapsed in December 2012. Alrosa allowed its Russian clients to take up between 90%-60% of the monthly contract volumes while market prices were negative.
Alrosa had 36 long-term contracts with Russian and foreign clients as of the autumn of 2012, accounting for 60%-70% of the company's sales volume. The company at the end of last year signed long-term contracts with two new major brand names, Tiffany and China's Chow Tai Fook, and extended its contract with Rosy Blue.
