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Angola diamond: Largest pink gemstone found in 300 years discovered in Lunda Norte region of Africa, Lucapa Diamond Company says

A 170-carat pink diamond discovered in Angola may be the largest such gemstone found in 300 years, according to Australian miner Lucapa Diamond Company.

Named ‘Lulo Rose’, the diamond was found at the Lulo alluvial diamond mine in the Lunda Norte region of Angola in Africa, the company said in a statement on Wednesday, with its partners, state diamond mining company Endiama and Rosas. & Petalas, a private Angolan company.

Angola’s mines are among the world’s top ten diamond producers, according to the Gemological Institute of America, which surveys diamond production. In alluvial diamond mining, stones are recovered from gravel and sand found in riverbeds.

Only one in 10,000 diamonds found are colored, according to Stephen Wetherall, managing director of the Lucapa Diamond Company.

“And only one in 100 diamonds is larger than 10.8 carats, so to recover a 170-carat pink diamond means we’re dealing with an extremely rare item,” Wetherall told CNN. “We have recovered pink diamonds in the past, but finding one of this size is extremely rare,” he said.

The pink gemstone is expected to be auctioned by Angola’s state-owned diamond marketing company, Sodiam. Wetherall declined to give an estimate of its value because the diamond is still being examined and valued.

The Angolan government also hailed the “historic” recovery of the gem.

“The record and spectacular pink diamond recovered from Lulo continues to establish 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,” said Diamantino Azevedo, minister of Angola. mineral resources, oil and natural gas.

Large colored diamonds have fetched record prices at auction in recent years. Last April, the 15.10-carat “The De Beers’ Cullinan Blue” diamond sold for $57.5 million at a Sotheby’s auction in Hong Kong. It only narrowly missed the record set by the 14.62-carat “Oppenheimer Blue” diamond, which fetched an additional $70,000 when it sold in 2016.

Angola’s largest diamond, dubbed the “February 4th Stone,” was recovered from the Lulo mine in February 2016, according to Lucapa. The 404.2-carat stone sold for $16 million, CNN reported.

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Angola diamond: Largest pink gemstone found in 300 years discovered in Lunda Norte region of Africa, Lucapa Diamond Company says Source link Angola diamond: Largest pink gemstone found in 300 years discovered in Lunda Norte region of Africa, Lucapa Diamond Company says

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