A rare pink diamond believed to be the largest of its kind in 300 years has been found at the Lulo alluvial mine in Angola.

Lucapa Diamond Company, the Australian site operator, broke the news in a statement on Wednesday.

According to the firm, the 170-carat pink diamond, named “The Lulo Rose”, “is believed to be the largest pink diamond recovered in the last three hundred years.”

It added that the diamond would be sold at international tender by the Angolan state diamond marketing company.

The diamond discovery has continued to attract commendations in Angola.

Diamantino Azevedo, Angola’s minister of minerals resources, said the discovery demonstrates the country’s potentials as “important player on the world stage for diamond mining.”

“This record and spectacular pink diamond recovered from Lulo continues to showcase Angola as an important player on the world stage for diamond mining,” Azevedo said.

On his part, Stephen Wetherall, the company’s managing director, said “Lulo is an exceptional alluvial resource and is truly a gift. We are once again made very proud by yet another historic recovery.

“We too look forward to our partnership progressing its exploration effort, where we are now bulk sampling the priority kimberlites, in search for the primary kimberlite sources of these exceptional and high-value diamonds.”

This is not the first time that a rare pink diamond would be discovered in Angola.

In 2017, the Pink Star, a 59-carat pink diamond, was found and sold for a world-record price of $71.2m.