In Angola, a 170-carat pink diamond has been discovered which is said to be the largest discovery of its kind in 300 years.
The ‘Lulo Rose’ diamond was discovered at the Lulo alluvial diamond mine, according to a statement posted on the website of the Lucapa Diamond Company, which owns the mine. The Lulo mine previously yielded the two largest diamonds ever found in Angola, including a 404-carat clear diamond.
According to Lucapa, an Australian company, the pink gemstone is the fifth-largest diamond discovered at the mine where 27 diamonds weighing 100 carats or more have been discovered. The pink diamond will be sold through a global auction by Angola’s state-owned Sodiam diamond marketing company. Due to its mines, Angola is one of the top 10 producers of diamonds worldwide.
According to the Lucapa website, Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum, and Gas said that this record and spectacular pink diamond recovered from Lulo continues to showcase Angola as an important player on the global stage for diamond mining and demonstrates the potential and rewards for commitment and investment in our growing diamond mining industry.
Similar pink diamonds have sold for record-breaking prices, even though The Lulo Rose would need to be cut and polished to be valued at what it is truly worth, a process that can cause a stone to lose 50% of its weight. Although the pink diamond is a big stone, many clear diamonds weigh more than 1,000 carats. The 3,106-carat Cullinan diamond, which was discovered in South Africa in 1905, is housed in the British Sovereign’s Scepter.
In February 2016, a magnificent 404.2-carat diamond was discovered. This credit card-sized diamond was about three inches large and nearly perfect. The lucky owner of the current 27th largest diamond in the world is the Australian diamond mining company Lucapa Diamond Company.
The huge diamond’s Type IIa grade, which was the second-highest rating a diamond can receive, makes it extra rarer. Only 1% to 2% of all diamonds are type IIa, and they almost rarely have nitrogen atoms in them. Although most diamonds feature nitrogen atoms as defects, pure diamonds are made of hard carbon lattices. A typical Type IIa diamond may sell for a premium of 5 to 15%; larger, rarer diamonds may attract higher premiums.
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The 404-carat diamond may be worth more than $20 million, according to Lucapa. They do point out that the price for diamonds this size does not always adhere to the same rules as for lesser gems. The Angolan Star’s 217.4-carat size gave it the distinction of being the largest Angola diamond, which is now held by Lucapa. According to Lucapa, they intended to sell the diamond to raise money for more exploration and development at the Angola diamond mine.
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