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In page Mining in Australia:

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Australia's population changed dramatically as a result of the gold rushes: in 1851 the population was 437,655 and a decade later it was 1,151,957; the rapid growth was predominantly a result of the "new chums" (recent immigrants from the United Kingdom and other colonies of the Empire) who contributed the 'rush'.[2] Although most Victorian goldfields were exhausted by the end of the 19th century, and although much of the profit was sent back to the UK, sufficient wealth remained to fund substantial development of industry and infrastructure.