Diamond mining and exploration company, Lucapa Diamond Company, has recovered a 170-carat pink diamond, dubbed the Lulo Rose, from its Lulo Diamond Mine in Angola, representing one of the largest rough diamonds discovered globally and believed to be the largest pink diamond recovered in 300 years.
“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 mining industry,” stated Angola’s Minister of Mineral Resources, Petroleum and Gas, H.E. Diamantino Azevedo.
The Type IIa alluvial diamond – the fifth largest from the field – is the 27th diamond exceeding 100-carats recovered from Lucapa’s Lulo Concession, with the 404-carat 4th February Stone, found in 2016, boasting the record as Angola’s largest recovered diamond.
The diamond is expected to fetch a high price when it is sold via an international tender process, which will be conducted by Angola’s state diamond marketing company, Sodiam, with Lucapa’s Managing Director, Stephen Wetherall, indicating that it’s color could give the Lulo Rose a higher premium.
“Only one in 10,000 diamonds is colored pink. So, you’re certainly looking at a very rare article when you find a very large pink diamond,” Wetherall stated, adding that, “We look forward to our partnership progressing its exploration effort, where we are now bulk sampling the priority kimberlites, in search for the primary kimberlite sources of these exceptional and high-value diamonds.”
The Lulo Diamond Mine’s production in Q1 2022 reached 5,227-carats, which included 50 diamonds exceeding 10.8-carats, with the largest recovery boasting 98-carats. Currently, Angola is the fourth largest diamond producing country in the world.
