Editor’s Note
A remarkable 170-carat pink diamond, potentially the largest of its kind discovered in three centuries, has been unearthed in Angola. This rare find highlights the ongoing potential for significant gemological discoveries.
Miners in Angola have discovered a rare, pure pink diamond. According to the Australian site operator’s announcement on Wednesday, this 170-carat pink diamond, named ‘The Lulo Rose’, is believed to be the largest diamond found in 300 years. It was recovered from the Lulo mine in northeastern Angola.
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Pink diamonds of this kind command extremely high prices in the market. Notably, in 2017, the 59.6-carat Pink Star diamond was sold at a Hong Kong auction for $71.2 million, making it the most expensive diamond ever sold. The weight of a diamond can be reduced by up to 50% after cutting and polishing.
Angola’s Minister of Mineral Resources, Diamantino Azevedo, commented on the find:
He indicated that the diamond’s true value will only be realized after it is cut and polished, a process expected to significantly increase its worth.
According to media reports, the diamond will be sold through an international tender organized by Sodiam, the Angolan state-owned diamond trading company. Similar pink diamonds have been sold for high prices in the past.