Diamond has been discovered on every continent on the planet and new mines are still being uncovered to this day. The propaganda from certain zealous speculators claim the world will soon exhaust its supply of the highly prized gem. It seems very unlikely that this will occur in our lifetimes, or even in generations to come.
It has been estimated diamonds form between 75 to 120 miles below the surface of the planet. Scientific study of temperature and pressure conditions, synthetic diamond testing and production, volcanic activity and inclusion analysis has given us strong evidence of the diamond stability field. The stability field provides the conditions necessary for carbon to crystallize into diamond.
Most diamonds are carried to the surface of the Earth in a dark-colored igneous rock called kimberlite. The exception is Australia, which produces a similar potentially diamond-bearing, igneous rock called lamproite. These volcanic activities that deliver diamond to the earth’s surface are at least 2.5 billion years old and perhaps as little as 50 million years old. It has been scientifically documented that rough diamond itself is at least 2.5 billion years old. It is still not known if the kimberlite itself has anything to do with the necessary conditions to form diamond. Most of the kimberlite discovered is non-diamond bearing.