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170-Carat Pink Diamond, Largest Find in 300 Years, Discovered in Angola

AFP

Last Updated: July 28, 2022, 11:12 IST

Central Africa

The 170 carat pink diamond in the picture- dubbed The Lulo Rose was discovered at the Lulo mine in Angola's diamond-rich northeast region.(AFP)

The 170 carat pink diamond in the picture- dubbed The Lulo Rose was discovered at the Lulo mine in Angola's diamond-rich northeast region.(AFP)

‘The spectacular pink diamond recovered from Lulo continues to showcase Angola as an important player on the world stage’, quoted Angola's Mineral Resources Minister

Miners in Angola have unearthed a rare pure pink diamond that is believed to be the largest found in 300 years, the Australian site operator announced Wednesday. A 170 carat pink diamond — dubbed The Lulo Rose — was discovered at Lulo mine in the country’s diamond-rich northeast and is among the largest pink diamonds ever found, the Lucapa Diamond Company said in a statement to investors.

The “historic" find of the Type IIa diamond, one of the rarest and purest forms of natural stones, was welcomed by the Angolan government, which is also a partner in the mine. “This record and spectacular pink diamond recovered from Lulo continues to showcase Angola as an important player on the world stage," Angola’s Mineral Resources Minister Diamantino Azevedo said.

The diamond will be sold at international tender, likely at a dazzling price. Although The Lulo Rose would have to be cut and polished to realise its true value, in a process that can see a stone lose 50 percent of its weight, similar pink diamonds have sold for record-breaking prices. The 59.6 carat Pink Star was sold at a Hong Kong auction in 2017 for 71.2 million US dollars. It remains the most expensive diamond ever sold.

In an another case, where the most prominent white diamond auctioned by Christie’s features two stones weighing more than 200 carats each. “The Rock", a 228.31 carat pear-shaped stone roughly the size of a golf ball, is expected to sell for up to $30 million, the auctioneer said. “Often with these largest stones, they sacrifice some of the shape in order to keep the weight," Max Fawcett, the head of Christie’s jewellery department in Geneva, told Reuters. “This is a perfectly symmetrical pear-shape form and …one of the rarest gems ever to be sold at auction."

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Diamond prices have been buoyed by sanctions on major producer Russia as well as the return of VIP events as pandemic restrictions unwind.

Mined in South Africa, “The Rock" was worn by its former owner as a Cartier necklace. The previous auction record for a white diamond was a 163.41 carat gem sold in 2017.

(With AFP and Reuters inputs)

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first published:July 28, 2022, 10:55 IST
last updated:July 28, 2022, 11:12 IST