Process by which new rock is made from old rock; rock cycle
The rock cycle is a recycling process by which igneous, metamorphic, and sedimentary rocks are produced, converted from one form to another and destroyed. The rock cycle is a continuous process that has been occurring throughout the history of the earth. The major processes of the rock cycle include sedimentation, crystallization, metamorphism and erosion.
The name for such a hole is "caldera" which is a word of Spanish origin meaning "a pot" or a "cooking pot" (thing of cauldron!) - and this word is used because it resembles the shape of this hole.
Often the Calderas are filled with water forming lakes and often there is an island in the middle of the water.
Latitude 60 north, longitude 90 east, I’m not too sure tho that’s just what I think :)