Sarine tech runs Alrosa digital Tender efficiently!
Sarine Technologies Ltd announces that, following the launch of their pilot program of digital tenders initiated last October, expanded in May due to the travel limitations imposed by the Covid-19 pandemic, Alrosa is now further promoting these tenders, enabled by Sarine's technologies, as an innovative alternative for the more efficient, less risky procurement of select rough stones sized 2 carats and up.
David Block, CEO of Sarine Technologies, commented, "We are honored to be working with Alrosa, the world's largest miner of rough diamonds by carats, producing roughly 26% of the global supply annually, as their provider of technologies for this new initiative and are excited about the potential of this venture.
This initiative, though envisaged with now seemingly uncanny foresight prior to the pandemic, is gaining momentum and offers midstream polishers a new method of acquiring rough, thus filling an acute need for more efficient rough trading means during these times of travel restrictions, increased uncertainties, and impinged margins.
Going forward I believe we will see more significant changes in rough sales methods, as was discussed in the Rappaport podcast about how the pandemic is accelerating the adoption of technology by the diamond industry.