History and Gold Mining
The town was founded in the 1870s when gold was discovered by chance at Towers Hill on Christmas Eve 1871 by 12-year-old Aboriginal boy, Jupiter Mossman. Jupiter was with a small group of prospectors including Hugh Mosman, James Fraser and George Clarke. Their horses bolted after a flash of lightning. While he was searching Jupiter found both the horses and a nugget of gold in a creek at the base of Towers Hill. Charters originated from the Gold Commissioner, W.S.E.M. Charters. A total of ten major gold reefs were eventually mined.
Such were the boom years, between 1872 and 1899, that Charters Towers hosted its own Stock Exchange. A railway between Charters Towers and the coastal port of Townsville was completed in December 1882. During this period, the population was approximately 30,000, making Charters Towers Queensland's largest city outside of Brisbane. The city was also affectionately known as 'The World', as it was said that anything one might desire could be had in the 'Towers', leaving no reason to travel elsewhere. The town was officially declared in 1877 with John McDonald being elected the town's first mayor.
By 1917 gold mining became uneconomic. During World War I labour was hard to find, and as the mines drove deeper, ventilation and water problems arose. This production decline was similar across Australian gold mines, with rising costs and a fixed gold price eroding profitability. The town entered a long period of relative stagnation and little further development has occurred since.
The Charters Towers gold field produced over 200 tonnes (6.6 million troy ounces) of gold from 1871-1917. The gold is concentrated into veins and was Australia's richest major field with an average grade of 34 grams per tonne. The grade was almost double that of Victorian mines and almost 75% higher than the grades of Western Australian (Kalgoorlie) gold fields of that time.
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