Mining giant Alrosa, has signed a long term agreement for supply of rough diamonds, with Laurelton Diamonds, a subsidiary of Tiffany & Co., reports say. Since the recent past, Laurelton Diamonds has been a buyer of Alrosa’s rough diamonds, but in one-off contracts, and the new long term supply deal, will enable to strengthen their partnership on a more permanent basis, as noted by Alrosa, reports add.

Alrosa also acknowledged that the inclusion of Laurelton into its list of buyers has further enhanced its priority to entre into long term deals with leading companies manufacturing end products – diamonds and jewellery. The deal was signed in Moscow. Laurelton Diamonds will source the rough diamonds from Alrosa for cutting at its facilities and then moving them onto Tiffany, reports suggest.