This rare pink diamond, weighing 34 grams, is thought to be the largest discovered in the last 300 years.

The 170 carat stone was named "Lulo Rose", after the mine in Angola where it was found.

It is believed to be the largest pink diamond mined since the 185-carat Daria-i-Noor, which was cut from a larger stone and is now among the Iranian crown jewels.

The Lulo rose is a type 2a diamond, which means it has little or no impurities, the

reports .

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

Angola pink diamond believed to be largest found in 300 years https://t.co/f1rx7mYeZb

— BBC News (World) (@BBCWorld) July 27, 2022

It is the fifth largest diamond found by the Lulo mine – a joint venture between Australian company Lucapa Diamond and the Angolan government.

Similar diamonds have been bought for tens of millions of dollars in the past, with one – known as the Pink Star – selling at an auction in Hong Kong for €70.2m in 2017.

The largest known pink diamond is the Daria-i-Noor, discovered in India, which experts believe was cut from an even larger stone and is now part of the Iranian crown jewels.

Another diamond cut from the same stone is also part of the same collection.

LOOK: 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.

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📸: AFP pic.twitter.com/NiCzdRR9HB

— Inquirer (@inquirerdotnet) July 27, 2022

The largest rough diamond of any color ever recorded is the Cullinan diamond, found in South Africa in 1905.

Weighing 3107 carats – more than half a kilogram, it was cut in 105 different stones.

The largest of these – the Cullinan I – is the largest cut diamond in the world and is part of the United Kingdom's Crown Jewels.