Mar 26, 2020

ALROSA’s Newly Launched Digital Tender for Large Rough Diamonds on Between March 23 and April 6, 2020

ALROSA’s new digital tender for special size (over 10.8 carats) rough diamonds launched in the face of the outbreak of the coronavirus pandemic and travel restrictions imposed by several countries as a result, is currently taking place, having been scheduled for March 23- April 6.   

“Due to the global situation, the company decided to cancel the upcoming special size auctions, simultaneously offering customers to take part in a digital tender if they need such rough,” ALROSA said.

The Company emphasised that the digital tender is based on  technology that provides customers with a full digital scan of each rough diamond for detailed analysis. “This allows buyers to thoroughly evaluate the rough and make informed purchasing decisions without visiting the company’s office, basing on comprehensive data regarding the offered rough stones,” ALROSA explained.

"Health of our employees and customers is essential for us,” said Evgeny Agureev, Deputy CEO of ALROSA. This is why we decided to cancel upcoming auctions and shorten those already in progress. The company is in contact with customers from different countries, considering different supporting measures. One of the opportunities is a digital tender. It will not replace the traditional trading model, but becomes a solution for those who are ready to work remotely right now. From our part, we will provide all the necessary information about our rough diamonds and will negotiate with customers on payment terms and logistics." 

ALROSA has been holding monthly digital tenders since October 2019. The Company said the results of these tenders showed “customers' interest in such a format”, in addition to the traditional approach.