This 170-carat pink diamond may be the biggest ever found globally

The Lulu Rose diamond. (Image credit: Lucapa Diamond Company)

A newly-found pink diamond may be the largest one recovered in the last 300 years, according to an Australian mining company.

The rare 170-carat rock was discovered in Angola in Africa by Lucapa Diamond Company and its partners.

The diamond has been named "The Lulo Rose" after Lulo -- the location of its discovery.

It is believed to be one of the biggest pink rough diamonds ever recovered globally, Lucapa said in an exchange filing on July 27.

"The Lulo Rose" will be sold through a tender conducted by the Angolan National Diamond Trading Company.

Angola's mineral resources minister Diamantino Azevedo said the historic discovery goes on to show that the country is an important global player in diamond mining.

"It demonstrates the potential and rewards for commitment and investment in our growing diamond mining industry," the minister added.

Meanwhile, Lupaca's management described the diamond as an "exceptional resource and a gift".

"We are once again made very proud by yet another historic recovery," the company's managing director Stephen Wetherall said. "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.”

Lulo is the site where two of the largest diamonds in Angola have been discovered.

Before the historic pink diamond, a 404-carat rock called the “4th February Stone” was found there.