OREANDA-NEWS. August 22, 2013. ALROSA held the first tender for the sale of rough and polished diamonds on the Shanghai Diamond Exchange (SDE). The tender was held in the scope of the Letter of Intent signed by the Company and the SDE in April 2013.

Thirty-five companies participated in the inspection sessions for both rough and polished diamonds. The tender brought the total of USD 505,362 thousand for the sale of rough diamonds and USD 245,389 thousand for polished diamonds.

The first tender on the platform of the SDE is a test one for ALROSA. However, the Company believes its results are positive as the SDE’s members showed a keen interest in the tender. The Company’s plans provide for further cooperation with the SDE.

The Letter of Intent with the SDE is another step of the Company towards the development of its cooperation with Chinese companies. Earlier ALROSA entered into a long-term agreement for the supply of rough diamonds with one of the leading jewelry manufacturers in China–Chow Tai Fook Jewellry Group Limited.