ALROSA and Diamond Dealers Club of New York signed a Memorandum of Understanding (MoU) aimed to develop the diamond industries of Russia and the USA.

The document was signed at an official ceremony in Las Vegas on 30 May by Reuven Kaufman, President of the DDC, and Alexander Malinin, Director of “Brillianty ALROSA” (ALROSA’s cutting and polishing division).

The parties agreed to exchange information regarding the development of the co-operation between the US and Russian diamond sectors and keep each other informed on the latest achievements in polished diamonds certification, new cutting and polishing technologies,  initiatives on identification of synthetics and treated diamonds.

Both parties will jointly seek to maintain separate sales of natural and synthetic diamonds and diamond jewelry as well as fight against mixing synthetics with natural diamonds.

The MoU terms also include cooperation on the World Diamond Council issues.

Alexander Malinin, Director of “Brillianty ALROSA” said, ”Ñooperation between diamond market participants and industry organizations is important for the market transparency. Information exchange will help mining companies, diamond cutters and jewelry producers to get a deeper understanding of actual market trends, supply, demand and especially pricing. Such a partnership can also provide guarantees of the origin of diamonds  to the jewelry customers and strengthen their confidence in diamond market».