The history of the Australian gold rush in the 1850s is well-known and appreciated.
It all began in 1851 with the first gold discovery near Bathurst in NSW. This pivotal event set the stage for the Australian population to quadruple from 430,000 to 1.7 million by 1871.
When they heard about the discovery of gold, people traversed the globe and took a considerable risk, travelling halfway around the world in search of their fortune. The largest non-European group of miners were Chinese.
A fact often forgotten — or unappreciated — is that Melbourne was the fastest-growing city in the world and, during the 1880s, was considered the richest city on Earth.
However, not so widely known or appreciated is that gold was not the only thing that attracted a large influx of migrants; a similar thing occurred with the discovery of opal 65 years later.
In January 1915, Jim Hutchison and his 14-year-old son William were in Coober Pedy searching for gold when they stumbled across an opal lying on the ground.
Like the first discoveries of gold, opals quickly began to attract migrants in search of their fortune; however, unlike gold, the attraction of opal mining still brings a diverse range of people to Australia.
For example, the population of Coober Pedy is a mere 2,500 people; however, it consists of 45 nationalities.
The Chinese played an important role in the early days; however, today, the South Australian town is popular with Sri Lankan, Indian, and Filipino communities.
In the 1970s and 1980s, in search of new products, Hong Kong gemstone buyers became fascinated with opal.
They began to descend on the outback town to deal directly with miners.
The opal rough was taken back to Hong Kong to be cut in factories and sold to consumers predominantly in the US.
Many of the people of Hong Kong later became residents of Coober Pedy.
Therefore, is it any wonder that Australia’s national gemstone has become a significant focus at various Hong Kong jewellery fairs?
Variation & Variety
Australia currently produces around 95 per cent of the world's precious opal and probably has most of the world’s major opal reserves.
Mexico and Brazil are the other traditionally significant opal producers.
Opal deposits in Slovakia and the Czech Republic once provided the bulk of the world’s production for more than 2,000 years.
Other countries where opal has been recorded include Guatemala, Honduras, Nicaragua, the western US, Canada, Indonesia and Turkey.
Since the discovery of Ethiopian opal in the 1990s, it has rapidly gained market share. Its attractive colours, patterns, and lower price points have made it popular.
Ethiopian opals have become the major rival to Australian products.
That said, Australian opals come in a wider variety of colours than Ethiopian opals.
The local product is considered to exhibit the entire rainbow spectrum, including fiery reds, deep blues, vibrant greens, and even black.
In addition, the colours in Australian opals are generally deeper and more vivid than those in Ethiopian opals.
The most prized Australian opals, known as ‘black opals,’ have a dark base that intensifies the play of colour.
While the two products cannot be compared, Australian opal remains superior, and it is a market that must be protected and developed.
Ride the rainbow
Ten years ago, Jeweller reported that the Australian opal industry looked set for a resurgence.
Many local suppliers had recorded strong sales over the previous 12 months.
At the time, Peter Sherman, director of Sherman Opals, said that the local opal industry had struggled since Japan – once the gemstone’s main buying market – experienced a financial crash in the 1990s.
However, in 2015, opal prices had spiked sharply, with the field value of blue-green opal increasing to $1,000 per carat – double the price charged five years earlier – and the field price for the ‘rarest’ opals increasing from $6,000 to $8,000 per carat.
This surge in popularity was mainly attributed to demand from international markets including the US, Europe and particularly China.
Since the global pandemic, opal jewellery has enjoyed a sharp rise in popularity.
When Jewellery and Gem World Singapore took place in September of 2022, many Australian exhibitors of opals and opal jewellery glowingly reported strong sales.
Among them was Sherman, who said that opal was enjoying roaring popularity following the pandemic.
“Australian opal is very big on the world stage right now, he said.
“After a long period of COVID lockdowns, many people have quite rightfully decided that Aussie opals are the most beautiful natural gemstone.”
That trend has shown no signs of slowing down since. At the June Jewellery and Gem Asia Hong Kong show, opal exhibitors were again in high spirits.
“Once upon a time, we had to rely on word-of-mouth to increase the popularity of opals and opal jewellery,” Tom King of Opal Pacific told Jeweller.
“Today, we are finding that interest in Australian opal is always rising. All varieties of opal are popular with Asian consumers; however, black opal is highly sought after.”
Industry gathering
Australia’s national gemstone is celebrated every year at the Australian Opal Exhibition, which is held on the Gold Coast each July.
The 2023 edition marked its 20th anniversary.
The show is scheduled this month for Wednesday 31 July to Thursday 1 August.
Reporting on last year’s opal exhibition, which was well attended by approximately 300 visitors, fair coordinator Maxine O’Brien said the feedback was overwhelmingly positive.
“There was a definite buzz in the room on the opening day. The feedback has been so positive, that there is now a waiting list for exhibitor spaces for next year,” she told Jeweller.
“We are investigating the possibility of creating additional booths. Two major initiatives were introduced this year, the change of venue and the holding of the exhibition one day earlier than usual.
Both of these were well received by visitors and exhibitors alike.”
She said that retailers are increasingly embracing opal jewellery for a variety of reasons, whether it be because of the gemstone's natural beauty or the ‘homegrown’ appeal of Australia’s national gemstone.
While overshadowed by the famous gold rush of the 1850s, the Australian opal industry has a unique and vibrant history. From humble and coincidental beginnings, it triggered a migration similar to the gold rush era.
Like its predecessor, opal discoveries drew people worldwide seeking fame and glory, with diverse communities settling in remote locations.
Interestingly, Hong Kong became a pivotal hub for the opal trade in the 1970s and 1980s, and buyers travelled to Australia to source gemstones.
This influx contributed to a fascinating cultural exchange, as many visitors eventually settled in Australia. Today, opal continues to be a significant player in Australian gemstone exports.
It is particularly prized for its stunning array of colours. Despite competition from Ethiopian opals in recent decades, Australian opals remain unparalleled.
The national gemstone not only supports a passionate industry but also embodies a cultural legacy and economic opportunity that Australia aims to sustain and develop globally.
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