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Companies and Business

The impact of the gold discoveries is also a story of capital formation, and the establishment of the organisational structures required to extract gold from a diversity of mining sites. New industries emerged, and a financial system developed – underpinned by stock exchanges and the powerful entrepreneurial spirit of those favoured by Fortuna in their quest for gold and other precious metals. Powerful business coteries, such as the Collins House group, also had their antecedence in the gold rush era.

As the emergent gold industry expanded, those who were fortunate in their search for gold sought industrial protection from trade unions. This trend increased as more men moved into providing wage labour for mining companies. Later, Broken Hill - a city synonymous with international mining giant BHP and silver – became a hub of industrial politics and trade unionism.

Keir Reeves