Angolan miners unearth pure pink diamond said to be rarest, largest found in 300 years

Sydney: A rare pink diamond has been unearthed by miners in Angola, which is said to be the largest one found in 300 years, according to the Australian site operator.

Dubbed the Lulo Rise, the 170-carat pink diamond was discovered at the nation's diamond-rich northeastern Lulo mine. The Lucapa Diamond Company in a statement to investors said that this is one of the largest pink diamonds that has ever been found.

The Angolan government which is also a partner in the mine has welcomed this "historic" find of one of the rarest and purest forms of natural stones, the Type IIa diamond.

"This record and spectacular pink diamond recovered from Lulo continues to showcase Angola as an important player on the world stage," Angola's Mineral Resources Minister Diamantino Azevedo said, AFP reported.

Although the Lulo Rose has to be cut and polished to realize its true value, a process that can see a stone lose 50 per cent of its weight.

This diamond, like other similar pink diamonds that have been sold for record prices, is likely to fetch a dazzling amount at international tender.

Pink Star, a 59.6-carat that was sold for USD 71.2 million at a 2017 Hong Kong auction, remains the most expensive diamond ever sold.