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The ‘Lulo Rose’ diamond found in Angola expected to fetch record price

A rare pink diamond discovered in Angola is thought to be the largest of its kind to be found in 300 years.

The 170-carat stone, which weighs just 34 grams, has been named the ‘Lulo Rose’, after the alluvial mine where it was discovered. Alluvial means that the stones are recovered from a river bed.

But the Australian owner of the mine, the Lucapa Diamond Company, says that only one in 10,000 diamonds found are pink in colour.

The discovery of the pink diamond has generated quite a bit of excitement, not only within African diamond producing countries, but also worldwide.

“The surfacing of this particular pink diamond in Angola is distinct justification that natural diamonds have always been the real wonders of the world,” said Dr M’Zée Fula Ngenge, Chairman of the African Diamond Council.

The mine in Angola has produced the two largest diamonds ever found in the country, including a 404-carat clear diamond.

The ‘Lulo Rose’ is to be sold by international tender by Angola’s state diamond marketing company, Sodiam.

“When you get to these rare articles, it’s very difficult to put or understand what kind of premium might well be paid for this kind of stone,” said Stephen Wetherall, Chief Executive Officer of Lucapa Diamond Company.

Because of its purity and unusual colouring, it’s expected to fetch a record high price.

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