Yes, they really call this "the Big Hole". It is located near Kimberley, South Africa (notice the skyline of the city in the background), and used to be the largest diamond mine in the world. Actually, the mine is located closer to Hopetown, just south of the city.
Diamonds were first discovered here in 1867, setting off a "diamond rush" as everyone hurried to stake their claims. As they dug deeper and deeper into the landscape, many claims collapsed into one another, eventually forming the "Big Hole". It is the largest hand-dug excavation in the world, finally reaching a depth of 820 meters. It has been closed since 1914, and is now three quarters full of water, having produced 14,504,566 carats of diamonds (that's over two TONS) from 22.6 million tons of ground.
KIMBERLEY: The Capital of South Africa's Northern Cape Province