Thursday, December 29, 2005

Gold Bars at Ballarat

Gold Bars are now flowing off the production line at Ballarat, Victoria, Australia, after a 87 year layoff.

This is a form of renaissance for Victoria Australia, known for its past gold fields and the great Australian Gold Rush.

In August 1851 gold was first discovered in Ballarat Victoria, Australia. By September that year, over 1000 miners had rushed to the area and the Great Australian Gold Rush had begun. Within 3 years there were over 20,000 miners and in one year 10 million recorded grams and possibly much more unrecorded had flowed out of the area.
Over 12 million ounces of gold has been extracted from 'them thar hills', and now we can expect around 200,000 ounces a year to be flowing out of Ballarat in the form of gold bars and coins in the future.

Ballarat is the place where the famous great Welcome Nugget was found. It weighed 68,956 grams and contained an estimated 68,272 grams of pure gold!

Ballarat is the third mine to reopen in the State with plans for a further mine at Bendigo in Victoria in 2006.

It seems there is still plenty of gold in the hills of Victoria Australia and you can still purchase Australian gold in the form of gold coins, bars and nuggets from the Perth Mint as well as gold and coin dealers.

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