He told Mining Journal's Global Leadership Report miners usually focused on mining and production and were limited in terms of access to their end customers.

"In that regard, the next big thing in mining is the ability to reach the end customer, and efficiently supply them with the product they need," he said.

"In the diamond mining industry - the diamonds and jewellery pieces are produced and bought by the end customer in order to celebrate a special occasion in one's life and that emotional component is one of the key factors that drives the demand.

"A customer wants to buy an experience that comes with the product rather than just the product itself.

"That's why a diamond mining company can no longer just mine the commodity-type product, we should mine diamonds with an emotional component in them and supply the diamond production chain with the diamonds that meet the requirements of the end customer - a rough diamond with a story.

"Therefore, a mining company that can adapt its business processes in a way where the end customer plays a central and key role is the one that will be seen as an industry role model."

ALROSA produced 9.7 million carats in the June quarter, a 24% quarter-on-quarter increase mainly due to a seasonal return to production at alluvial deposits, and sold 8.3M carats.

This article was based on the answer to one of four questions ALROSA CEO Sergey Ivanov was asked as part of his interview for Mining Journal's Global Leadership Report. The report focus this year was ‘The Workplace of the Future'. The research included open interviews with some 20 major mining executives and a survey of more than 500 industry professionals. The results will be released in late August.