News

Actions

Massive diamond worth millions found in Angola

Posted: 1:20 AM, Feb 16, 2016
Updated: 2016-02-16 02:26:40-05
Massive diamond worth millions found in Angola
A massive diamond weighing 404 carats and measuring about 7 centimeters across was recently unearthed in the African country of Angola, a mining company announced Monday.
 
Lucapa said the diamond was discovered by the Lulo Diamond Project. 
 
The diamond is virtually flawless, according to New York-based diamond retailer Yehuda, which tested it and categorized it as a perfect Type IIa stone. Furthermore, Lucapa noted that the stone is “D-colored” -- meaning it is entirely colorless, as well as the rarest an likely most valuable grade for a white diamond, CNNMoney reports.
Lucapa Chairman Miles Kennedy told ABC Australia that the historical find could be worth about $20 million.
 
The Lulo Diamond Project started in Angola, which is the world's fourth biggest country for diamond production, in 2015; since then, the area has so far produced more than 60 "large special diamonds.