Miners discover 170-carat pink diamond believed to be largest found in 300 years

Pink diamond

Miners in Angola have unearthed a rare pure pink diamond that is believed to be the largest found in 300 years, the Australian site operator announced Wednesday.

A 170-carat pink diamond -- dubbed The Lulo Rose -- was discovered at Lulo mine in the country's diamond-rich northeast and is among the largest pink diamonds ever found, the Lucapa Diamond Company said in a statement to investors.

The company released a video showing images of the stunning diamond on YouTube.

The "historic" find of the Type IIa diamond, one of the rarest and purest forms of natural stones, was welcomed by the Angolan government, which is also a partner in the mine.

"This record and spectacular pink diamond recovered from Lulo continues to showcase Angola as an important player on the world stage," Angola's Mineral Resources Minister Diamantino Azevedo said.

The diamond will be sold at international tender, likely at a dazzling price.

Although The Lulo Rose would have to be cut and polished to realize its true value, in a process that can see a stone lose 50 percent of its weight, similar pink diamonds have sold for record-breaking prices.

The 59.6 carat "Pink Star" was sold at a Hong Kong auction in 2017 for 71.2 million US dollars. The "Pink Star," which was mined in Africa by De Beers in 1999 as a raw 132.5 carat gem and cut over a two-year period, remains the most expensive diamond ever sold.