Miners have recovered what’s believed to be one of the largest raw pink diamonds ever discovered. Called the “Lulo Rose,” the 170-carat pink stone was found earlier this month at a diamond mine in the Lunda Norte region of Angola owned by the Australian mining giant Lucapa Diamond Company.

The stone is a type IIa diamond, meaning it has little-to-no impurities. Its soft rosy tone also adds to the exceptional rarity of the find. 

The Lulo Rose is set to be sold on the international market. There’s no word yet on the price it’s expected to fetch, but we can predict a dazzling sum of money since large pink diamonds often sell in the tens of millions of dollars. 

Back in 2017, the 59.6 carat "Pink Star" diamond was sold at a Hong Kong auction for a spine-shivering $71.2 million, making it the most expensive diamond ever sold. 

“The record-breaking Lulo diamond field has again delivered a precious and large gemstone, this time an extremely rare and beautiful pink diamond,” Dr José Manuel Ganga Júnior, Chairman of the Board of Endiama, said in a statement. 

Diamonds are a solid form of the element carbon, with their atoms arranged in a crystalline structure. Most were created over 3 billion years ago, some 150 to 200 kilometers (93 to 124 miles) underground in the Earth's mantle, where they are subject to intense heat and pressure. They are then brought closer to the surface through volcanic activity. 

Africa is an especially diamond-rich part of the world because it has a high concentration of volcanic pipes, which basically act as “Earth’s pores”, penetrating through the planet’s outermost crust. 

There are a few theories about how pink diamonds are formed, but no agreed-upon consensus. Other diamonds get their color from chemical impurities that absorb light: for instance, yellow diamonds contain traces of nitrogen and blue diamonds contain boron. Pink diamonds, however, are a bit different. One of the most robust theories suggests that pink diamonds are created by some kind of seismic shock that alters the stone's molecular structure.