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The Australian goldfields did not really end; it was just that the gold was harder to get to, so the goldrush ended.

The Australian gold rush ended because the alluvial gold, that is, the gold which was able to be reached easily, was mined out. Alluvial gold sat on the surface and was easy for prospectors to find.

Once the "easy pickings" ran out, only large companies had the equipment to dig down deep to where the reef gold was. There is still much more gold in Australia, but by early in the twentieth century, most of it could only be reached by heavy industrial mining equipment. This is the primary method of gold extraction in Australia today.

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