Antarctic Diamonds

Scientists have found evidence for diamonds in the icy mountains of Antarctica, however it is currently forbidden to recover minerals from the Antarctic for commercial purposes. Diamonds form from carbon that has been put under extreme heat and pressure, reaching up to 150km beneath the Earth's crust. Volcanic eruptions help to bring valuable crystals, including diamonds, to the Earth's surface, in blue rocks called kimberlites. These kimberlites have now been found in Antarctica in three separate samples, and are a specific type that suggests the presence of diamonds, however only 10% would be economically viable. The Protocol on Environmental Protection to the Antarctic Treaty has banned the extraction of mineral resources, except for scientific purposes, but this is up for review in 2041. At this time, views on mining here could change, and technology may have continued to advance, making it more economically viable to extract minerals here.
The paper that has been published regarding these kimberlites explains that they are 120 million years old, corresponding to the ages of other Cretaceous Gondwanan kimberlites from around the world. They have been brought up to the surface of the Earth due to the reactivation of a Graben (a trench that is bordered by normal faults) associated with rifting of India from Australia and Antarctica.

A Graben surrounded by normal faults