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Alrosa, Tiffany’s in talks on premium-class, small diamonds

Alrosa has to provide the sorting and preparation of such diamonds, CEO of the Russian company noted

© AP Photo/Kiichiro Sato

BRUSSELS, March 15. /TASS/. Russia’s top diamond producer Alrosa is holding negotiations with Tiffany & Co on deliveries of fine, rough diamonds of premium colors, Chief Executive Officer of the Russian company Sergei Ivanov told TASS on Thursday.

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"We have good, long-standing relations with Tiffany. They value and buy a certain range of Russian diamonds. Indeed, they have extra demand. We are negotiating with them but on colors, not just merely over small rough diamonds," Ivanov said.

Alrosa has to provide the sorting and preparation of such diamonds, the top manager noted. "This is not some major contract, this is one of the areas of our operations," Ivanov added.

The Russian company is engaged in exploration, production and sale of diamonds. The company produces diamonds on the territory of Sakha (Yakutia) and the Arkhangelsk Region. The company's shareholders are the Russian Federation represented by the Federal Property Management Agency (33.02%), the Sakha Region (Yakutia) - 25%, districts of Yakutia - 8%. That being said, 34% of shares are in free float.

Tiffany & Co, founded in 1837, is one of the largest retail chains of jewelry and luxury products, with 300 branded jewelry stores worldwide.

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