Lulo is certain to garner a high price in the auction room, but its color could increase its value even further.

Miners in the African nation of Angola have uncovered what is believed to be the largest pink diamond discovered in the last three centuries.

According to the Lucapa Company, the 170-carat pink gem with the name Lulo Rose was discovered in the alluvial Lulo diamond mine, which means it was found on a riverbank.

“One out of every 10,000 diamonds is pink. When you locate a very huge pink diamond, you are therefore in possession of an extremely uncommon item “Stephen Wetherall, chief executive officer of Lucapa, told the Associated Press.

It will fetch a high price at auction, but Mr. Wetherall speculated that its hue could offer it an even greater premium.

Mr. Wetherall stated, “We are searching for the kimberlite pipes that transported these diamonds to the surface.”

“The discovery of these high-value, big diamonds surely heightens our excitement in our search for the source.”

The mine employs over 400 people and has already unearthed the two largest diamonds ever discovered in Angola, including a transparent 404-carat diamond.

The most recent diamond found at Lulo is the fifth-largest diamond – pink or otherwise – ever discovered at the location. It will be auctioned by Sodium, Angola’s governmental diamond marketing business.

The nation ranks among the top 10 diamond-producing nations in the world.

Angola’s minister of mines, oil, and gas, Diamantino Azevedo, stated, “This record and beautiful pink diamond discovered from Lulo highlights the potential and benefits for commitment and investment in our expanding diamond mining industry.”

While the pink diamond weighing 170 carats is remarkable, numerous colorless gems frequently exceed 1,000 carats.