Sydney, March 6 -- Australian scientists have identified the oldest known meteorite impact crater on Earth, a discovery that could greatly reshape the understanding of the planet's formation and the origins of life.

The discovery significantly challenged previous assumptions about Earth's ancient history, the study's co-lead author, Tim Johnson from Curtin University, said on Thursday.

Curtin University researchers investigated rock layers in the North Pole Dome, an area of the Pilbara region of Western Australia (WA), and found evidence of a major meteorite impact 3.5 billion years ago.

"Before our discovery, the oldest impact crater was 2.2 billion years old, so this is by far the oldest known crater ever found on Earth," Johnson sai...