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Lucapa Sells 170-Carat Pink Diamond Unearthed This Summer

Lucapa sells 170-carat pink diamond! And this will be the perfect chance to know more about this truly amazing stone and be the one to buy it. The pink diamond that weighed 170 carats and was found this summer was reportedly sold; however, the companies that control the mine are not disclosing to whom or how much it was sold.

Johnny K.
Johnny K.
Dec 05, 202232 Shares1.2K Views
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  1. The Lulo Rose Is The Fifth Largest Diamond To Be Found At Lulo
  2. The Diamond Is Estimated To Earn Millions Of Dollars

Lucapa sells 170-carat pink diamond! And this will be the perfect chance to know more about this truly amazing stone. The pink diamond that weighed 170 carats and was found this summer was reportedly sold; however, the companies that control the mine are not disclosing to whom or how much it was sold.

In July of this year, the type IIa diamond was extracted from the Lulo alluvial mine in Angola.

At the time of the diamond's discovery, the companies that operate the mine - the Australian miner Lucapa Diamond Company Ltd., the private Angolan company Rosas & Petalas, and the state-owned Endiama E.P. said it was the largest pink diamond found in 300 years, marking another "historic recovery" at the mine.

Rosas & Petalas is an Angolan company that is privately owned. Endiama E.P. is state-owned.

The Lulo Rose Is The Fifth Largest Diamond To Be Found At Lulo

Stones are extracted from the river bed at the alluvial mine known as Lulo, which employs a workforce of 400 people. According to Lacapa, the location has been producing huge, high-value diamondson a commercial scale since the year 2015.

170 carats pink diamond discovered in Angola, largest in 300 years

To date, Lulo has been responsible for the production of 27 jewels weighing more than 100 carats, as well as two of the largest diamonds ever found in Angola.

The enormous "4th February Stone," weighing 404 carats and selling for 16 million dollars, was the most valuable discovery made at the location.

The Lulo Rose is the seventh-largest diamond that was discovered at the Lulo mine.

Lucapa CEO Stephen Wetherall told the Associated Press.

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.- Stephen Wetherall

Lucapa informed the Associated Press that the diamond is the fifth-largest one that the businesshas discovered at the mine. It is also one of 27 diamonds that are larger than 100 carats that have been discovered there.

As per Wetherall, who spoke with the outlet, the alluvial mine at Lucapa recovers gems from river beds, while employees also look for underground deposits known as "kimberlite pipes" to locate the gems.

Angola's state-owned diamond marketing company, Sodiam E.P., recently completed the sale of The Lulo Rose and six other large rough diamonds at an international tender that was held in Angola. The sale brought in a total of $20.4 million and an average price of $26,536 per carat.

All of the remaining stones were white diamonds, and their respective carat weights were as follows: 160 carats, 131 carats, 113 carats, 81 carats, 65 carats, and 45 carats. They were all type IIa roses, much like The Lulo Rose.

767 carats was the total weight in carats of all of the diamonds that were up for bid.

Lucapa did not disclose the name of the company that purchased the pink diamond weighing 170 carats or the price at which it was sold. However, he did say that the seven diamonds were purchased by "a variety of different companies" and that they did not all go to the same buyer.

The Diamond Is Estimated To Earn Millions Of Dollars

At the upcoming auction that will be organized by the Angolan national diamond marketing company Sodiam, it is anticipated that the diamond would fetch a price in the millions.

In point of fact, it has the potential to be even more valuable than the Pink Star, a pink diamond weighing 59.6 carats that were sold for a record price of $83 million in 2013. (It continues to hold the title of the most valuable pink diamond in the world.)

Stephen Wetherall, the managing director of Lucapa, has not released an estimate of how much the Lulo Rose diamond is worth because the diamond is still being evaluated and appraised.

Diamantino Azevedo, Angola's minister of mineral resources, petroleum, and gas said, per Lucapa's website:

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

Natural pink diamonds are extremely rare and beautiful, but finding one can be difficult. There are just a limited amount of them, and it is anticipated that there are only another 500 pinks of gem quality that have yet to be found.

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