Alrosa to sell polished diamonds though tender basis

In a meeting, Alrosa’s Market Conjuncture Panel decided to change its format of selling polished diamonds of 1-carat or larger from the previous one-time contract method to a tender format. This decision has been made effective from march 4, 2011,although the mining company will honour the terms of sale to its customers who buying through one-time supply contracts before March 4, reports suggest.

The reason for the change in format is being attributed to the healthy demand for polished diamonds. The Panel is chaired by company president Fyodor Andreev.