Russian diamond mining company Alrosa has announced plans to sell an “extremely rare” 242ct rough diamond at its upcoming auction later this month.

The stone, which the company called its most significant in five years, will mark Alrosa’s 100th auction.

It is one of the largest gem-quality crystals mined by the group since 2000, and will sell on 22 March at the company’s ‘Jubilee Auction’.

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Viewings are being held at the company’s Dubai offices 14-21 March. Viewings will also feature two diamonds sized at 190.74ct and 136.21ct each, as well as a range of notable stones over 10.8 carats.

Evgeny Agureev, ALROSA head of sales, said: “Rough diamonds, which potentially allow for cutting a diamond larger than 100 carats, are extremely rare in nature.

“Even less often such gems are traded: according to the law, all rough diamonds larger than 50 carats mined in Russia undergo a state examination for redemption to the state fund.

“Even when it is possible to put them on sale on the market, we prefer to cut and polish the diamond in-house before.

“Thus, today we are especially pleased to present this exceptional lot as part of our 100th international auction”