Fakoyejo OlalekanAustralian mining operator, Lucapa Diamond Company, said the largest pink diamond in 300 years has been discovered by Angolan miners at the Lulo mine, operated by the foreign firm.
The 170 carat pink stone, which is yet to be cut and polished to unveil its true value, is projected to become the most expensive gem in the last three centuries, considering it is a Type IIa diamond, one of the most rarest and most valuable gem.
This is based on the cost of $71.2 million a 59.6 carat pink diamond was sold five years ago during an Hong Kong auction. The new discovered 170 carat pink, called Lulo Rose, will be sold by Sodiam, the Angolan state diamond marketing company, through international tender.
Lucapa Diamond Company disclosed the discovery on Wednesday, July 27. The diamond miner and explorer runs the Lulo mine with the Angolan government, and has one other high-quality mine in Lesotho.
Speaking on the discovery, Angola’s Mineral Resources Minister, Diamantino Azevedo, said, “This record and spectacular pink diamond recovered from Lulo continues to showcase Angola as an important player on the world stage.” Angola’s mines are one of the top 10 producers of diamonds in the world.
It is notable that while the pink diamond is one of the largest in 300 years and the fifth largest discovered in Lulo, clear diamonds larger in size have been discovered, in other mining site, including Lulo, where two 404-carat clear diamonds were found.
Other sizes discovered in other mining sites include 1,000 carats, as well as the 3,106 carats Cullinan diamond found in South Africa in 1905.
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