by – yayimages.com
When it comes to the natural resources, Australia is one of the richest countries around the globe. It has reserves of coal, copper, timber, natural gas, and iron ore in abundance. Coal is found in every state of Australia and the country even exports it to some Asian countries.
But gold is the major natural resource of Australia. It has more gold than any other country in the world. The gold mines in Australia account for around 14.3% of the entire world’s gold supply.
History of Gold Rush in Australia
Gold rush in Australia began in the early 1850’s after the discovery of gold mines in New South Wales. Another gold rush followed in 1885 when another gold mine was discovered at Halls Creek, Western Australia. The Europeans began settling in the country in search of gold. Due to the immigrants, the population of Australia more than tripled within the next 10 years and it quickly became a multi-cultural region.
After the discoveries of gold mines, Chinese industrialists found Australia a great attraction. They started to settle in Melbourne and set factories.
Importance of Gold
Gold has always been the most valuable natural resource of Australia. During the mid 20th century, the Australian government focused more on discovering and utilising other natural resources, but it has not reduced the value of gold in anyway.
Due to a wide range of applications, gold is still the most precious natural resource in Australia. Not only is it used for making jewellery, it’s also used in various other fields such as pharmaceutical industry, glass-making, electronics, dentistry, and for decorative purposes.
Back in the day, gold was also used as a currency. Even today, many investors prefer investing in gold, since it helps them secure their money as well as gives a good return on the investment. It’s the most valuable long-term investment option. The value of this precious metal tends to stay constant over longer periods, which is why you can earn big profits with your investment.
You can diversify your investment portfolio by investing in gold bars or coins. You can buy the precious metal from the comfort of your home through goldstackers.com.au.
The total value of natural resources in Australia reaches $19.9 trillion. When compared with other natural resources including uranium, natural gas, oil, coal, and copper, selling gold to other countries provides the government with the biggest profits.
The economical conditions of the country are strong, which is why the standard of living is also high. All of this is made possible due to the abundant gold reserves in the country. Therefore, it can be said that gold is easily one of the most precious and valuable metals in the country.
Australia is the biggest supplier of gold globally. The gold reserves in the country make up 14.3% of the world’s supply. It’s one of the most valuable natural resources that help strengthen the economy of the country. With gold mines present in all states, Australia is the richest country in the world in terms of gold.