World famous luxury jeweller Tiffany & Co wants Siberian diamonds

The agreement may come this week, according to business newspaper Kommersant. Alrosa's main production is un the Sakha Republic (Yakutia) and its headquarters are in the mining town of Mirny as well as in Moscow. 

The deal on behalf of Tiffany is expected to be signed by its wholly-owned Belgian subsidiary Laurelton Diamonds Inc.

'Alrosa is interested in new clients from among world jewellery producers, which will ensure reliable purchases of rough diamonds. For its part, Alrosa is ready to take decisions on redistributing qualitative raw materials in their favour as its current long-term contracts expire,' said a source. 

Alrosa did not comment on the report, said RIA Novosti. 

The company has 35 long term contracts, many of which will expire in 2013. The US agreement will follow an estimated $100 million two year deal to supply Chinese jewellery group Chow Tai Fook.

Alrosa accounts for 25 percent of global diamond production in terms of value. In 2011 the company's diamond output totaled 34.6 million carats, while rough diamond sales reached $4.45 billion, reported RIA Novosti.