Angola: Rare pink diamond discovered; largest in 300 years
What's the story
An exceptional pure pink diamond, considered to be the largest discovered in 300 years, has been found in Angola, a Central African country. It's a 170-carat pink pure diamond known as the Lulo Rose. Miners in diamond-rich northeast Angola have discovered the rare pure pink diamond at the Lulo mine, according to the Australian site operator.
Context
Why does this story matter?
According to The Lucapa Diamond Company, a diamond manufacturer with two high-value mines reportedly in Angola and Lesotho, the Lulo Rose is one of the largest pink diamonds ever unearthed. The "historic" discovery of a Type IIa diamond, one of the rarest and finest forms of natural stone, was applauded by the Angolan Union government, which is also a mining partner.
Statement
Official statement over the development
"This record and spectacular pink diamond recovered from Lulo continues to showcase Angola as an important player on the world stage," Diamantino Azevedo, Angola's Mineral Resources Minister, reportedly stated. Notably, Type IIa diamonds are completely pure and account for 1% to 2% of all natural diamonds. They are generally colorless and are reportedly one of the rarest types of natural stone.
Fact
The diamond will be sold through an international tender
According to Bloomberg, Sodiam, an Angolan state-owned diamond trading company, would organize an international tender to sell the gem. The diamond will need to be cut and polished before its true value can be determined. This is necessary in order to realize the full potential of the Lulo Rose. The diamond will reportedly lose 50% of its weight if it is sliced and polished.
Information
The Pink Star remains the most expensive diamond ever sold
In the past, pink diamonds that were similar in appearance have reportedly garnered exceptionally high prices. In 2017, a Hong Kong auction fetched around $71.2 million for the 59.6-carat Pink Star diamond that was up for sale. Notably, the Pink Star diamond continues to hold the record for the most costly diamond to be ever sold.