SRDSIL signs long-term contract with Alrosa for direct supply of rough diamonds

According to reports, the Surat Rough Diamond Sourcing India Limited (SRDSIL), a consortium formed last year by diamantaires to directly source rough diamonds, has succeeded in sourcing a direct regular supply of rough diamonds from Russian mining giant Alrosa. The entity has signed a long-term supply contract with the miner, during a three member delegation visit to Moscow, reports say. According to the contract, the miner will supply atleast US$5.2 million worth of rough diamonds every month.

The first batch of rough diamonds coming in from Alrosa is reported to be worth $5.2 million, which the SRDSIL plans to begin selling in mod December through auction tender and direct sale, to shareholders and other small and medium diamantaires, reports suggest.