Biggest pink diamond in 300 years discovered in Angola, company says

A large 170-carat pink diamond has been discovered in Angola and is believed to be the largest gemstone found in 300 years.

Named “Lulo Rose”, the diamond was found in the Lulo alluvial diamond mine, the owner of the mine, the Lucapa Diamond Company, announced on its website on Wednesday.

“Only one in 10,000 diamonds is pink in color, so you’re definitely looking at a very rare item when you find a very large pink diamond,” Stephen Wetherall, CEO of Lucapa, told The Associated Press.

The pink gemstone is expected to fetch a high value at auction, but Wetherall said he is unsure what kind of premium will be paid due to its color.

Mine has a history of great discoveries

Lulo is an alluvial mine, that is to say that the stones are recovered from the bed of a river. The Lucapa company is looking for underground deposits, known as kimberlite pipes, which are thought to be the main source of diamonds, Wetherall said, speaking from the company’s headquarters in Australia.

“We are looking for the kimberlite pipes that brought these diamonds to the surface,” Wetherall said. “When you find these large, high value diamonds…it certainly increases the excitement from our perspective in our primary source hunt.”

About 400 people are employed at the Lulo mine, which has already produced the two largest diamonds ever found in Angola, including a 404-carat clear diamond, he said.

The pink gemstone is the fifth largest diamond found at the mine where 27 diamonds of 100 carats or more have been found, according to Lucapa.

The pink diamond will be sold by international tender by the Angolan national diamond marketing company, Sodiam. Angola’s mines make it one of the world’s top 10 diamond producers.

“This record-breaking and spectacular pink diamond recovered from Lulo continues to showcase Angola as an important player on the global diamond mining scene and demonstrates the potential and rewards of commitment and investment in our growing industry. diamond mining,” said Diamantino Azevedo, Angolan Minister of Mines. Resources, Petroleum and Gas said, according to the Lucapa website.

The pink diamond is impressive in size, but many clear diamonds exceed 1,000 carats. The Cullinan diamond found in South Africa in 1905 tipped the scales at 3,106 carats and adorns the scepter of the British ruler.