Diamond Buyers Club

On April 24, ALROSA, the world leader in diamond mining, and Antwerp World Diamond Centre (AWDC) signed a new extended cooperation agreement in Moscow. The agreement continues positive cooperation experience between the parties and expands bilateral interaction in line with new challenges of the market.

ALROSA CEO Sergey Ivanov and AWDС CEO Ari Epstein signed the new agreement. The official ceremony was held in the presence of Bart de Wever, Mayor of Antwerp, and Jean-Arthur Regibeau, Ambassador of the Kingdom of Belgium to Russia.

The aim of the three-year agreement is to improve the scope and efficiency of ties between ALROSA and AWDC. Among other things, it assumes that the companies will keep exchanging information on the diamond market.

The parties also agreed on joint promotion of marketing initiatives, including generic marketing to maintain the value of diamonds as a category and stimulate consumer demand. AWDC will support the efforts of ALROSA that are done together with other members of the Diamond Producers Association (DPA). ALROSA and AWDC will likewise support each other in promoting their own initiatives.

ALROSA and AWDC will pay great attention to the problem of illegal penetration of synthetic stones into the trade of rough and polished diamonds.The parties agreed to jointly promote and protect the procedure of differentiation in rough diamonds and synthetic stones, including support of industry initiatives. AWDC will also allow for comprehensive check-ups and support the promotion of detection devices for synthetic stones, including Diamond Inspector, the technology developed by ALROSA.

The parties will also continue close collaboration within the World Diamond Council (WDC) to complete the reform of the WDC's System of Warranties, and supporting the WDC as an industry representative in the Kimberley Process.

"Belgium is the world's largest diamond trading center and...

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