Seven members of the Garrawa and Gurdanji clans from the Borroloola area came to Darwin for the ceremony, where they gave the diamond the name ‘Jungiila-Bunajina’ – meaning ‘Star Meteorite Dreaming Stone’.

The diamond was found in March 2002 at the Merlin diamond mine, located some 80 kilometres south of Borroloola. At 104.73 carats, the diamond has been valued at more than $1 million.

NLC executive member Max Finlay headed the contingent of traditional owners, which also included Jerry Anderson, Billy Coolibah, Les Hogan, Billy Dodd, Jocelyn Mawson and Peggy Mawson. Mr Finlay said it was difficult for the traditional owners to see a piece of their country removed from its place of origin.

But in a broader sense I see it is good because we are sharing it with the outside world," he said. "Giving this stone an Aboriginal name means it goes into the world with our full blessing.

Brendan Hammond, the managing director of Argyle Diamonds – owner of the Merlin mine – said that naming the diamond was quite significant because Australia "had not produced another diamond worthy of this honour".

The unveiling of the Jungiila-Bunajina diamond is a worthy last hurrah for the Merlin mine, which is due to be closed later this year. It began operation in 1998 following the signing of an historic native title agreement with traditional owners.