New Wealth
During the 1900s gold mining in Australia gradually declined and the rush had eased. The deeper the gold was underground, the more expensive it was to mine and the price of gold wasn’t enough to make it worthwhile. However, in the late 1970s the price of gold began to climb again and big mining companies started production again in many of Australia’s goldmines. Australia is the third largest producer of gold after South Africa and the United States in the world today. It is our largest manufactured export and is worth $7 billion dollars a year to the Australian economy with 15000 people employed in the industry.
The most important result of the gold rushes was that it increased Australia becoming a nation by firstly giving two of the colonies N.S.W. and Victoria great wealth and secondly by bringing a sudden influx of people, many of whom stayed on, boosting the economy. Government taxes made it possible for the building of infrastructure and services required in new towns and cities and the immigrants brought with them great diversity in culture, language, religion and skills.
The most important result of the gold rushes was that it increased Australia becoming a nation by firstly giving two of the colonies N.S.W. and Victoria great wealth and secondly by bringing a sudden influx of people, many of whom stayed on, boosting the economy. Government taxes made it possible for the building of infrastructure and services required in new towns and cities and the immigrants brought with them great diversity in culture, language, religion and skills.