Pink diamond found in Angola, believed to be largest in 300 years | Mining news

The 170-carat ‘Lulo Rose’ was found in the Lulo diamond mine, which has already produced the two largest diamonds ever found in Angola.

A rare 170-carat pink diamond recently discovered in Angola is celebrated as the largest gem found in 300 years.

Dubbed the “Lulo Rose,” it was found at the Lulo alluvial diamond mine in Angola’s Lula Norte region, the mine’s owner, the Lucapa Diamond Company, announced on its website on Wednesday.

“Only one in 10,000 diamonds is colored pink. So you’re definitely looking at a very rare item when you find a really big pink diamond,” Lucapa CEO Stephen Wetherall told the Associated Press news agency.

The pink gem is expected to fetch a high value when it goes up for auction, but Wetherall said he wasn’t sure what kind of bounty would be paid because of its color.

Lulo is an alluvial mine, which means that the stones are extracted from a riverbed. Lucapa is looking for the underground deposits known as kimberlite pipes, which are believed to be the main source of the diamonds, Wetherall said, speaking from the company’s headquarters in Australia.

“We’re looking for the kimberlite pipes that brought these diamonds to the surface,” Wetherall said. “When you find these high-quality large diamonds … it certainly heightens the excitement from our perspective in our hunt for the primary resource.”

He said about 400 people work at the mine, which has already produced the two largest diamonds ever found in Angola, including a 404-carat clear diamond.

The pink gem is the fifth largest diamond found in the mine, where 27 diamonds of 100 carats or more were found, according to Lucapa.

The pink diamond will be sold through an international tender by the Angolan state diamond marketing company, Sodiam.

Angola’s mines make it one of the world’s top 10 producers of diamonds.

“This record and the spectacular pink diamond recovered from Lulo continues to showcase Angola as a major player on the global diamond mining stage and demonstrates the potential and rewards for commitment and investment in our growing diamond mining industry,” Diamantino Azevedo, Angola’s minister of minerals raw materials, petroleum and gas, according to the Lucapa website.

The pink diamond is impressive, but many clear diamonds are larger than 1,000 carats.

The Cullinan diamond found in South Africa in 1905 is worth 3,106 carats and is in the British Sovereign’s Sceptre.

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