A massive 404.2 carat diamond was recently discovered in Angola by an Australian mining company. Report says the rare gem is estimated to a worth range of $14 – $20 million.
The discovery of this size of diamond makes it the 27th largest ever recorded in the world. The 404.2-carat diamond which measures about 7 centimeters (2.75 inches) is believed to be one of the rarest species in the world.
Tested by a diamond dealer in New York, the diamond was classified as a colorless and flawless Type IIa stone – “the most valuable color grade of a white diamond.” Forbes analysis says;
The large diamond is even more rare given its Type IIa rating, 2nd from the highest rating possible for diamonds. Type IIa diamonds make up only 1 to 2% of the world’s diamonds and contain very little to no nitrogen atoms. Pure diamonds are comprised of rigid carbon lattices, however, most diamonds have imperfections including nitrogen atoms. A typical Type IIa diamond will command a 5 to 15% premium and could be more in rarer large diamonds.
See Also: Africa’s Top 5 Diamond Producers
Angola is the 4th biggest diamond producing country in the world and the 3rd largest in Africa. The greater news is that the nation’s diamond rich region has only been explored to a 40% rate. Angola is one of the mineral rich African countries and is also known for having vast petroleum reserves
Angola commenced mining in the early 20th century, 1912 to be precise. With the legal concession that was given to accommodate both local and international investments in diamond mining, Angola’s diamond production increased by 30% in 2006. But on the other hand, the nation witnessed a $375 million annual loss from diamond smuggling. Record says that the Catoca mine in Angola contains about “60,000,000 carats (12,000 kg) worth of reserves”.
In 2014, a 1,111-carat diamond estimated to the worth of £25 million was unearthed in Botswana; in 2007, a 217.4-carat diamond named the ‘Angolan Star’, was found in Angola. Now this latest discovery of a 404.2-carat diamond by an Australian Diamond company in Luanda, the nation’s capital, takes up the position as the highest ever found in Angola at the moment. It is worthy to mention that diamonds are the second leading export in Angola.
Did you know that the largest diamond ever was the “Cullinan” found in South Africa in 1905? It was a 3,106 carat gem and weighed about 1.3 pounds.