Russia’s Alrosa diamond giant and Tiffany are nearing a deal worth $60 million, says Kommersant daily. According to the newspaper, the contract could be signed by the end of November.
Tiffany has been Alrosa’s partner for many years now, but has never had a long-term contract.
Earlier, Russia’s biggest diamond producer was reported to be in negotiations over a deal with China’s Chow Tai Fook Jewellery Group, worth 100 million a year.
In 2013, some 50 percent of Alrosa’s three-year contracts are scheduled to expire so the company has been actively looking to expand its customer base.
In 2011, Alrosa, whose main assets include mines in Yakutia, reported an output at 34.6 million carats worth a total of $4 billion.
Author: Mikhail Vesely