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In recent times on October 2nd, 1979, geologists found the Argyle pipe near Lake Argyle: The richest diamond deposit in the world. Since then, Argyle has become the world's largest volume producer of diamonds, and alone is responsible for producing over a third of the world's diamonds every year.

Currently, most diamonds are mined in the following countries: South Africa, Zaire, Russia, Canada, Australia, Botswana, Angola, Namibia, Brazil, Ghana, and China. The major cutting centers of the diamond world are in Antwerp, Bombay, Tel Aviv, and New York.