The first diamonds were discovered in India around 800 B.C. The volcanic source of these first diamonds was never discovered, but the river bed deposits were rich enough to supply most of the world's diamonds until the eighteenth century. When Indian diamonds dwindled, exploration led to the discovery of diamonds in Brazil, which became the next major source for diamonds. Around 1865, South Africa's large diamond deposits were discovered and the modern diamond industry was born. The South African diamond mine output was unequaled until major deposits were found in Siberian in l954. Today, Western Canada is where the world's newest diamond rush is happening.

Throughout much of history, diamonds were mined from the sand and gravel surrounding rivers. But in South Africa around 1865, diamonds were found in the earth far from a water source, and the practice of mining for diamonds was started.

Today, there are major diamond cutting centers in Belgium, Indian, Israel, South Africa, Austrialia, and the United States.