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Australian mining company Lucapa Diamond Company says it has found the largest pink diamond in 300 years.

The 170-carat pink diamond was discovered in the Lunda Norte region of Angola, one of the top ten producers of diamonds in the world.

According to Stephen Wetherall, managing director of the Lucapa Diamond Company, only one in 10,000 diamonds found are coloured.

“And only one in every 100 diamonds is greater than 10.8 carats in size. So recovering a 170-carat pink diamond means we are dealing with an extremely rare article. We have recovered pink diamonds before, but finding one this size is an extremely rare article.”

While the diamond is still being examined and valued, it’s impossible to give an estimate of just how much the diamond is worth. It will be auctioned by the Angolan state diamond marketing company, Sodiam.

The Angolan government celebrated the discovery of the pink diamond as well.

“The 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,” said Diamantino Azevedo, the country’s minister of mineral resources, petroleum and gas.

Image credit: Mexico Detail Zone

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