by Jim Richards
1492
Columbus discovers the New World.
1533
The conquistador Pizarro ransoms the Inca emperor Atahualpa for a room full of gold.
1556
De Re Metallica by Agricola published, the first book on geology, mining and metallurgy.
1690s
Gold rushes start in Minas Gerais, Brazil.
1717
First gold-based monetary standard introduced by Sir Isaac Newton. The price was set at 4 pounds 4 shillings 11.5d per ounce of gold.
1786
USA adopts bi-metallic gold/silver standard for the US dollar.
1789
The French Revolution causes a large flow of gold from Paris to London.
1795
First $10 Eagle gold coin struck in the United States.
1816
UK introduces a gold standard for the pound. This standard is the newly minted sovereign (7.3224 grams of gold).
1848
California gold rush commences.
1851
Australian gold rushes in New South Wales and Victoria commence.
1854
Eureka Stockade battle in Ballarat, Victoria (Australia).
1858
Colorado gold rush commences.
1861
Otago gold rush commences in New Zealand.
1886
Witwatersrand Basin gold deposits discovered in South Africa.
1887
Cyanidation (MacArthur-Forrest process) introduced to extract gold from low-grade ore.
1893
Gold discovered by Paddy Hannan at Kalgoorlie in WA.
1897
Klondike gold rush commences.
1900
USA introduces a gold standard via the Gold Standard Act.
1909
Porcupine gold rush in Ontario, Canada, commences.
1931
UK abandons the gold standard.
1934
US dollar fixed at $35/ounce of gold, and gold is made illegal to own.
1936
Gold standard almost universally abandoned.
1940
World gold production 39 million ounces per year.
1944
Breton Woods agreement fixes a gold exchange standard and creates the World Bank and IMF.
1949
US gold reserves peak at 707 million ounces, 75 per cent of western gold holdings.
1969
Gold discovered at Carlin, Nevada, USA.
1970
South African annual gold production peaks at 32.15 million ounces.
1973
US dollar leaves the gold standard.
1974
US citizens allowed to own gold again.
1976
Official gold price abolished.
1980
Gold reaches a high of $860 per ounce in a massive gold boom.
1980s
Carbon in pulp (CIP) and carbon in leach (CIL) processing breakthroughs allow the treatment of low-grade oxide gold ore.
1997
BRE-X gold fraud in Indonesia uncovered. Largest mining fraud in history.
2012
Gold price hits $1,780 per ounce.
APPENDIX C
TOP 10 GOLD NUGGETS
Note: There are varying reports of details for different nuggets. This list is the author’s interpretation.
APPENDIX D
TOP 10 GOLD RUSHES
Note: this list is subjective, and represents only the author’s opinion.
ACKNOWLEDGEMENTS
I would like to thank all of the people from the gold and diamond mining industries who have contributed to this book. Many of these people from the artisanal sector have virtually no material possessions, yet are big-hearted men and women with great generosity of spirit.
Thanks to Mark Thompson (aka Dinosaurman), friend, ace prospector and discoverer of a world-changing graphene deposit. Mark comes up with three ideas for finding a new mine during every hilarious lunch together as we share all the shams and the scams that mining executives and prospectors get up to. Mark also did a technical edit on the book and supplied some of the gold nuggets in the photos.
To fellow director Grant Mooney, the man you want in your trench while fighting a hostile takeover bid.
To author Sam Jordison, for being far more polite about my first draft than he was about some of middle-England in his hilariously excoriating book Crap Towns. To Andrew Wyllie of The Writers Workshop, for his outstanding talent at editing and as a writing coach. I knew I had written something worthwhile when Andrew told me, ‘My late father [a stonemason and degree-qualified geologist] would have really loved this book.’
To Scott Forbes for his input, notably on the Australian content. To Perth-based Linda Martin for some good advice, and Nuala Keating for connecting me up with Georgia Richter. To Carol Scafe for the maps and for putting up with my pedantry for the last twelve years of drafting geological figures. To Nina Otranto, for her beautiful photography.
I was blessed with two gifted editors and publishers: Georgia Richter of Fremantle Press in Perth and Hannah MacDonald of September Publishing in London; thanks to you both for your uncannily perceptive work. When I initially sent an email query to Georgia to follow up interest in Gold Rush, I not only got her name wrong but also the name of the publishing house, thus proving that publishers can be merciful if they like the book. Also at Fremantle Press, thanks to Jane Fraser, CEO, Claire Miller, communications manager, and Lisa Wallace, events and communications coordinator, for their support and help. At September Publishing, Charlotte Cole for the forensic copy-edit and for catching that which I thought had already been caught. To proofreader Leila Jabour for so scrupulously manning the final line of defence. To Fiona Brownlee of Brownlee Donald Associates for her highly effective and creative UK marketing work. Phill Cronin of Cronin Communications in Perth for showing me that body language really does count. Kelly Thompson for her excellent suggestions.
To my agent, Charlie Viney of The Viney Agency, who has been a tenacious, resolute and loyal supporter and had great faith in the book. I am also indebted to him for his excellent suggestions about increasing the historical material and context.
I had an advantage in life that not every child is so fortunate to hold: my mother’s utter love and devotion, which flowed over me unconditionally. I wore this love like a protective cloak that I could slip on at a moment’s notice. This motherly devotion also had the unintended consequence of enabling me, when required, to tell the entire world to bugger off. Without this there would have been no gold rush. Mum, thank you. I hope I’ve used this gift wisely.
Finally, thanks to my beautiful and talented wife, Herma, who, with four kids to organise, puts up with my writing most evenings. Darling, you are my greatest gem.
ABOUT THE AUTHOR
Jim Richards became obsessed with finding gold and diamonds in his teens. He went on to be closely involved in numerous mineral discoveries around the world. This includes the Omai gold deposit in Guyana, which became the largest gold mine in South America, and the Railway iron ore deposit in Western Australia, which was acquired by BHP Billiton in 2010 for A$204 million.
He has founded a string of successful mining businesses and is today one of the industry’s leading executives. Currently, Jim is executive chairman of an Australian publicly listed minerals corporation.
Prior to his prospecting, geology and mining career, Jim served in the British Army Parachute Regiment, with operational experience in Northern Ireland. He was educated at Goldsmiths College, University of London (Geology) and the Royal Military Academy Sandhurst.
Jim lives in Perth, Western Australia.
Check out Jim’s website, which has additional background information, photos and a suggested reading list. Post a comment and let him know what you think:
www.jimrichards.com.au
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