Rare pink diamond may be the largest found in last 300 years

A rare pink diamond found in Angola may be the largest recovered in the last 3 centuries, according to Australian miner Lucapa Diamond.

The 170-carat stone from the Lulo alluvial mine has been named the Lulo Rose, the company and its partners, Endiama EP and Rosas & Petalas said in an exchange filing on Wednesday (Jul 27). It will be sold through an international tender conducted by Angolan state-owned diamond trading firm Sodiam.

Fancy coloured diamonds, which are rarer than colourless ones, have fetched record-setting prices in recent years. The De Beers' Cullinan blue diamond was auctioned for about US$57.5 million at Sotheby's in Hong Kong in April. BLOOMBERG