Carla La Tella

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Aussie miner discovers $102 million pink diamond

Aussie miner discovers $102 million pink diamond

A rare pure pink diamond has been unearthed in Angola, at the Lulo mine, and according to the Aussie operator of the mining site it is believed to be the largest discovered in 300 years.

Named "The Lulo Rose", The 170 carat pink diamond was discovered in the country's diamond-rich northeast.

The sparkling whopper is among the largest pink diamonds ever found, the Lucapa Diamond Company said in a statement.

The “historic” find of the Type IIa diamond is one of the rarest and purest forms of natural stones and was welcomed by the Angolan government, which is also a partner in the mine.

“This record and spectacular pink diamond recovered from Lulo continues to showcase Angola as an important player on the world stage,” Angola’s Mineral Resources Minister Diamantino Azevedo said.

The diamond will be sold at international tender, likely at a dazzling price. Although the precious jewel would have to be cut and polished to reveal its true value, the process could potentially see the stone lose 50% of its weight.

Similar pink diamonds have sold for record-breaking prices.

The 59.6 carat Pink Star was sold at a Hong Kong auction for US $71.2 million (AUD $102.5 million). It remains the most expensive diamond in the world.

Image: Lucapa Diamond Company Limited 

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