Russia's Alrosa inks $490 mn deals with Indian diamond cutters

I / Moscow March 13, 2010, 17:06 IST

Russian diamond producer Alrosa has signed a three-year contracts with Indian diamond cutters Rosy Blue, Diamond India, and Ratilal Becharlal and Sons for the supply of raw diamonds worth $490 million in current market prices, the company said in its press release on Friday.

Under the contracts, the range and prices for exported diamonds are subject to quarterly adjustment depending on the situation on the world diamond market. The contracts also provide for possible increase in the raw diamond supply volumes.

In 2009, Alrosa sold more than $500-million worth of raw diamonds to Indian diamond cutting companies, which accounted for half of the company's exports.
 
Alrosa is one of the world's biggest diamond companies, accounting for 25 per cent of the world output.