Bloomberg News

Diamond Bigger Than Crown Jewel Koh-i-Noor Unearthed in Angola

August 21, 2012

A diamond bigger than the Koh-i-Noor, a centerpiece of the British crown jewels, has been unearthed by Australia’s Lonrho Mining Ltd. (LOM) in Angola.

The 131.5 carat diamond was the bigger of two stones discovered since the Lulo project near the Cuango river in northeastern Angola was started two years ago, Perth-based Lonrho said today in a statement. The other was a 38.3 carat stone that made it the third-biggest diamond found from the site, Lonrho said. A carat is a fifth of a gram.

The discovery indicates the potential of the kimberlite pipe, the volcanic rock containing diamonds, Managing Director Miles Kennedy said. Angola ranks behind Botswana, Russia, Canada and South Africa as the world’s biggest diamond producer by value, according to De Beers, the world’s largest diamond company.

“The latest diamond recoveries underline the world-class exploration potential of the Lulo concession,” Kennedy said in the statement. He didn’t give a value estimate for the stone.

The 106-carat Koh-i-Noor (‘Mountain of Light’) diamond, presented to Queen Victoria in 1850, is now set in the platinum crown made for the late Queen Elizabeth, the Queen Mother, for the 1937 coronation, according to the website of the British Monarchy.

To contact the reporter on this story: Soraya Permatasari in Melbourne at soraya@bloomberg.net

To contact the editors responsible for this story: Rebecca Keenan at rkeenan5@bloomberg.net; Andrew Hobbs at ahobbs4@bloomberg.net


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