Rare Pink Diamond Found in Angola, Could Be the Largest Unearthed in 300 Years

Angola miners have unearthed a rare pink diamond that is expected to fetch tens of millions of dollars.

According to the Associated Press, the gemstone was found at the Lulo alluvial mine in the diamond-rich region of northeast Angola. The natural stone is said to weigh about 170 carats and is believed to be the largest pink diamond found in the last 300 years. It also marks the fifth largest diamond ever discovered at the mine, which is a joint ventured by the Angolan government and the Australia-based Lucapa Diamond Company.

“Only one in 10,000 diamonds is colored pink,” Lucapa CEO Stephen Wetherall told the AP. “So you’re certainly looking at a very rare article when you find a very large pink diamond.”

Dubbed the “Lulo Rose,” the diamond will reportedly be sold at international tender. According to the Gemological Institute of America, natural pink diamonds can rack up to $2 million per carat; however, the Lulo Rose could lose about half of its weight after going through the cutting and polishing process.

For comparison, a 59.6 carat pink diamond known as the “Pink Star” sold at auction for $71.2 million in 2017. It remains the most expensive gemstone ever sold.

“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, according to the Lucapa website.