An astounding 404.2-carat diamond, the largest diamond ever discovered in Angola , was recently unearthed. This diamond, at almost 3 inches wide is the width of a credit card and virtually flawless. The Australian diamond mining company Lucapa Diamond Company is the lucky owner of the now 27th largest diamond in the world!
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.
Lucapa estimated that the 404-carat diamond could be worth upwards of $20 million. However, they note that pricing on diamonds this large doesn’t necessarily follow the same guidelines used for smaller diamonds. Lucapa now owns the honor of the largest Angola diamond, previously held by the Angolan Star at 217.4-carats. Lucapa has noted they plan to sell the diamond to fund further exploration and expansion at the Angola diamond mine. (Forbes)