Alrosa, Rio Tinto and De Beers to found a diamond alliance

​Until the end of the year Alrosa will renew its cooperation with De Beers in the framework of the association after 5 years of termination of trade relations. The largest diamond extraction companies controlling over 70% of the world market will found it aiming for a joint promotion of diamonds in the world market. The future participants of the project promise not to touch the issues of prices and clients that are subject to the anti-trust regulation. Today the issue of Alrosa’s participation in the new project is discussed by its supervision committee.

The issue of Alrosa’s participation in the Association of Diamond Producers is in the agenda of today’s meeting of its supervision committee. A source in the supervision committee told Kommersant that on Friday the committee for strategic planning approved Alrosa’s entering the Association of Diamond Producers. “The largest market players worry about the reduction of demand for diamonds and consider necessary to work out a systematic approach for their promotion”, they told Kommersant.