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Russia’s Alrosa to supply USD490 m worth of diamonds to Indian cutters

Russian diamond producer Alrosa announced on Friday that it has signed contracts with Indian diamond cutters Rosy Blue, Diamond India and Ratilal Becharlal and Sons to supply USD490 million worth of raw diamonds at current market prices over a three year period. Under the contracts, the range and prices for exported diamonds will be subject to quarterly adjustment depending on the world diamond market at that time.