170-Carat Pink Diamond May Be Largest Gem of its Type Found in 300 Years

·1 min read
170-Carat Pink Diamond May Be Largest Gem of its Type Found in 300 Years

A rare 170-carat pink diamond has been discovered in an Angola mine, authorities confirmed on Wednesday, reporting it to be the largest such stone found in 300 years.

The rare "Lulo Rose" diamond was recovered by the Lucapa Diamond Company in a mine in Africa, the Australian company announced in a video.

"Only one in 10,000 diamonds is colored pink. So you're certainly looking at a very rare article when you find a very large pink diamond," Lucapa CEO Stephen Wetherall told the Associated Press.

The diamond is the fifth-largest diamond to be unearthed by the company at the mine, Lucapa told the AP, and one of 27 larger than 100 carats to have been found there.

In 2016, the "4th February Stone" — a 404.2-carat stone — was recovered from the same mine, according to Lucapa. It later sold for $16 million.

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A handout photo made available by the Lucapa Diamond Company shows a 170 carat pink diamond recovered from Lulo, Angola 27 July 2022. A big pink diamond of 170 carats was discovered in Angola and is claimed to be the largest such gemstone found in 300 years. Called the Lulo Rose the diamond was found at the Lulo alluvial diamond mine in Angola according to the mine's owner, the Lucapa Diamond Company. 170 Carat pink diamond discovered, Luanda, Angola - 27 Jul 2022
A handout photo made available by the Lucapa Diamond Company shows a 170 carat pink diamond recovered from Lulo, Angola 27 July 2022. A big pink diamond of 170 carats was discovered in Angola and is claimed to be the largest such gemstone found in 300 years. Called the Lulo Rose the diamond was found at the Lulo alluvial diamond mine in Angola according to the mine's owner, the Lucapa Diamond Company. 170 Carat pink diamond discovered, Luanda, Angola - 27 Jul 2022

Photo by Lucapa Diamond Company HANDOUT/EPA-EFE/Shutterstock

Such large diamonds tend to do well at auction. In April, a 15.10-carat diamond, dubbed "The De Beers' Cullinan Blue" sold for $57.5 million at a Sotheby's auction in Hong Kong.

The historic Lulo Rose will be sold by Sodiam, an Angolan state diamond marketing company, per the AP.

A handout photo made available by the Lucapa Diamond Company shows a 170 carat pink diamond recovered from Lulo, Angola 27 July 2022. A big pink diamond of 170 carats was discovered in Angola and is claimed to be the largest such gemstone found in 300 years. Called the Lulo Rose the diamond was found at the Lulo alluvial diamond mine in Angola according to the mine's owner, the Lucapa Diamond Company. 170 Carat pink diamond discovered, Luanda, Angola - 27 Jul 2022
A handout photo made available by the Lucapa Diamond Company shows a 170 carat pink diamond recovered from Lulo, Angola 27 July 2022. A big pink diamond of 170 carats was discovered in Angola and is claimed to be the largest such gemstone found in 300 years. Called the Lulo Rose the diamond was found at the Lulo alluvial diamond mine in Angola according to the mine's owner, the Lucapa Diamond Company. 170 Carat pink diamond discovered, Luanda, Angola - 27 Jul 2022

Photo by Lucapa Diamond Company HANDOUT/EPA-EFE/Shutterstock

Lucapa's alluvial mine recovers gems from river beds and workers search for underground deposits, also known as "kimberlite pipes" to find the gems, Wetherall told the outlet.

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"This record and spectacular pink diamond recovered from Lulo continues to showcase Angola as an important player on the world stage for diamond mining and demonstrates the potential and rewards for commitment and investment in our growing diamond mining industry," Diamantino Azevedo, Angola's minister of mineral resources, petroleum and gas said, per Lucapa's website.