Recent Times
During the mid-nineteenth century, diamonds were also being discovered in eastern Australia. However, it was not until late 1970's, after seven years of earnest searching, that Australia's alleged potential as a diamond producer was validated.

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.