Miners in Angola have discovered a rare pink diamond believed to be the largest in the world in 300 years, the Australian mining company that runs the site announced Wednesday.
The 170-carat stone has been named "Lulo Rose", after the mine in northeastern Angola, where it was discovered.
The Lulo Rose is a type 2a diamond, meaning it has few or no impurities.
Angola's minister of mineral resources Diamantino Azevedo said that 'this record and spectacular pink diamond recovered from Lulo continues to showcase Angola as an important player on the world stage'.
The "Lulo Rose" will still need to be cut and polished to achieve its full value; a process in which the stone can lose 50% of its weight.
In 2017, similar diamonds have been bought for tens of millions of dollars in the past, with one known as Pink Star selling at a Hong Kong auction for $71.2 million.
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