One of many diamond mines owned by ALROSA , the Udachny mine in Russia is on pace to become the largest diamond mine in the world . Located in the Yakutia region of Russia , Udachny is estimated to contain over 152 million carats of diamonds . Discovered in 1955 , the mine is one of the deepest open-pit mines in the world , producing 10 million carats of diamonds a year .

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