A Perth mining company has dug up the largest pink diamond in 300 years in the East African nation of Angola.

The diamond is 170 carats and has been labelled the ‘Lulo Rose’.

Non-Executive Chairman of the Lucapa Diamond Company, Miles Kennedy, told Gareth Parker the stone will go to “international tender”.

“The world’s diamond buyers will certainly be invited to attend, and participate, in that tender process,” he said on 6PR Breakfast.

“We are talking about tens of millions of dollars.

“How many tens of millions will be determined, but certainly, very significant value to come from this stone.”

Press PLAY below to hear more about the diamond’s discovery below 

Image: iStock by Getty