A press release by Alrosa announces that the Russian mining giant has formed a list of long-term clients for the new contract period 2018-2020. From January 15 to January 19, 2018, Alrosa’s long-term clients will participate in the first trading session under the new long term Contract.
The complete list of clients will be posted on ALROSA sales website.
Long-term contracts, which account for up to 70% of sales of the diamonds mined by Alrosa, “guarantee volumes and assortment of monthly supplies, as well as the possibility to purchase additional batches of rough diamonds”.
According to the company, there are two innovations to this contract period include: the increase in the volume of products supplied to the Russian domestic market to support the Russian cutting and polishing sector, and heightened requirements to “comply with the level of financial performance, which is stipulated by long-term contracts (covenants)”.
