Diamonds are pure carbon, formed deep in the earth under intense heat and pressure, and most are between 1 and 3 billion years old. Diamonds were discovered in Botswana, a country in southern Africa, in 1967 and since then all of the world’s largest diamonds have come from there. The latest is a baseball-sized 2,492-carat monster. The last giant diamond, smaller than this one, sold at auction for $53 million. Read story here.