Sourcing

Lucapa Sells 170-Carat Pink Diamond Unearthed This Summer

SourcingDec 02, 2022

Lucapa Sells 170-Carat Pink Diamond Unearthed This Summer

Said to be the largest pink diamond found in hundreds of years, “The Lulo Rose” was sold for an undisclosed sum.

Another shot of The Lulo Rose, this time alongside an 80-carat white diamond also from Angola’s Lulo mine. The mine’s operators declined to disclose the diamond’s sale price or the name of the company that bought it. (Photo courtesy of Lucapa Diamond Company Ltd.)
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Luanda, Angola—The 170-carat pink diamond recovered this summer has been sold, though the companies that operate the mine are not saying to whom or for how much.

The type IIa diamond came out of the Lulo alluvial mine in Angola in July.

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

Last month, Sodiam E.P., Angola’s state-owned diamond marketing company, sold The Lulo Rose alongside six other big rough diamonds via an international tender held in Angola that totaled $20.4 million and averaged $26,536 per carat. 

The other stones, all white diamonds, were: 160 carats, 131 carats, 113 carats, 81 carats, 65 carats, and 45 carats. Like The Lulo Rose, they were all type IIa. 

The total carat weight of the diamonds in tender was 767. 

Lucapa declined to reveal the name of the company that bought the 170-carat pink diamond or its sale price but did say the seven diamonds were bought by “a variety of different companies;” they did not all go to one buyer. 

 Related stories will be right here … 

The Lulo alluvial diamond mine has been in commercial production since 2015.

In that time, the mine has yielded 30 diamonds weighing 100 carats or more.

The largest of these was the 404.2-carat “4th February Stone,” a type IIa, D-color diamond that stands as the biggest diamond ever mined in Angola. 

Mine operators recovered the diamond in February 2016 and sold it the following month for $16 million, or $39,580 per carat. 

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

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