jan 1, 1961 - Mining Industry Boom

Description:

- 1938 embargo on iron ore was lifted in 1960, allowing iron ore exports to increase dramatically through exploration of minerals.
- It allowed the discovery of deposits in locations like the Kalgoorlie deposit in Yilgarn and Mt. Tom Price in the Pilbara.
- These discoveries allowed minerals to expand in supply, and therefore, increase exports of minerals through the 1960s.
- Assisted Australian trade and provided the basis for iron ore exponential growth to begin and compete with agricultural exports.

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