A 170-carat pink diamond found in Angola stands out as the largest such gemstone present in 300 years, in line with Australian miner Lucapa Diamond Firm.

Named the “Lulo Rose,” the diamond was discovered on the Lulo alluvial diamond mine within the Lunda Norte area of Angola in Africa, the corporate stated in an announcement on Wednesday, with its companions, state-run diamond miner Endiama and Rosas & Petalas, a non-public Angolan firm.

Angola’s mines are among the many world’s prime ten producers of diamonds, in line with the Gemological Institute of America, which researches diamond manufacturing. In alluvial diamond mining, stones are recovered from gravel and sand discovered on riverbeds.

Just one in 10,000 diamonds discovered are coloured, in line with Stephen Wetherall, managing director of the Lucapa Diamond Firm.

“And just one in each 100 diamonds is bigger than 10.8 carats in dimension, so recovering a 170-carat pink diamond means we’re coping with a particularly uncommon article,” Wetherall advised CNN. “Now we have recovered pink diamonds earlier than, however discovering one this dimension is extraordinarily uncommon,” he stated.

The pink gemstone is anticipated be auctioned by the Angolan state diamond advertising and marketing firm, Sodiam. Wetherall declined to offer an estimate of its price as a result of the diamond remains to be being examined and valued.

The Angolan authorities additionally hailed the “historic” restoration of the gem.

“The file and spectacular pink diamond recovered from Lulo continues to showcase Angola as an essential participant on the world stage for diamond mining and demonstrates the potential and rewards for dedication and funding in our rising diamond mining trade,” stated Diamantino Azevedo, Angola’s minister of mineral sources, petroleum and gasoline.

Giant coloured diamonds have fetched record-high costs at auctions in recent times. Final April, 15.10-carat “The De Beers’ Cullinan Blue” diamond offered for $57.5 million at an public sale by Sotheby’s in Hong Kong. It solely narrowly missed beating the file set by the 14.62-carat “Oppenheimer Blue” diamond, which fetched simply shy of an additional $70,000, when it offered in 2016.

Angola’s greatest diamond, dubbed the “4th February Stone,” was recovered from the Lulo mine in February 2016, in line with Lucapa. The 404.2-carat stone offered for $16 million, CNN reported.