It's not a volcano or a meteor strike. It's an intrusion of rare minerals originally over 5,000 miles deep in the earth that tunneled up through the mantle over a billion years ago. Erosion caused the formation you see today.
Rock Formations, Resources - Minerals/Metals
Links: productforums.google.com, www.atlasobscura.com
By: sharky
It's one of the the largest placer platinum deposits in Russia called "Kondyor". What you can (or cannot) see inside this huge "crown" are mine workings, factory and roads. Unfortunatelly I have no idea how this magnificent Kondyor Massif originated.
http://forum.worldwind.arc.nasa.gov/lofiversion/index.php?t2531.html
(articles about it at the bottom)
Think cosmic,
Starmon