Diamond is the hardest known natural material and one of the two best known forms (or allotropes) of carbon, whose hardness and high dispersion of light make it useful for industrial applications and jewelry. (The other equally well known allotrope is graphite.) Diamonds are specifically renowned as a mineral with superlative physical qualities - they make excellent abrasives because they can be scratched only by other diamonds, Borazon, ultrahard fullerite, or aggregated diamond nanorods, which also means they hold a polish extremely well and retain luster.
Diamonds are formed by prolonged exposure of carbon bearing materials to high pressure and temperature. On Earth, the formation of diamonds is possible because there are regions deep within the Earth that are at a high enough pressure and temperature that the formation of diamonds is thermodynamically favorable. Under continental crust, diamonds form starting at depths of about 150 kilometers (90 miles), where pressure is roughly 5 gigapascals and the temperature is around 1200 degrees Celsius (2200 degrees Fahrenheit).