Last Updated :
07 April 2009 at 10:30 IST
Alrosa to supply $500 mn rough diamonds to Antwerp
Russian diamond miner Alrosa will supply 15 Antwerp-based diamond companies with $500 million worth of rough diamonds until the end of the year. Alrosa’s supply is part of a rough diamond distribution agreement reached last week with the Antwerp World Diamond Centre (AWDC).
The agreement to supply of the 15 Antwerp diamond companies can be extended beyond December.
The AWDC said in a release that it sees a cautious rise in the demand for rough diamonds following months of depressed sales. It added that this may indicate a careful optimism in the Antwerp diamond market.
“We are very happy to announce this and welcome Alrosa’s decision to resume its trading activities in Antwerp. This clearly demonstrates Alrosa’s trust in our structure and solid foundations,” states Freddy J. Hanard, CEO of AWDC.
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