Delivered at the University of Sydney, on June 4th, 1954.THE TORCH WE HOLDLast year Our Institute celebrated its Diamond Jubilee, coincident with the holding of the Fifth Empire Mining and Metallurigcal Congress in Australia and New Zealand. We can be proud of our growth over the 61 years since the inaugural meeting in Adelaide in April, 1893, which followed suggestions from a provisional committee of mining men, formed in 1892 in Broken Hill.We can also be proud of our technical achievements in the fields of economic geology, mining and metallurgy.Should we be content with the growth of our mining and metallurgical industries over these years? My answer is in the negative. The discovery of new mineral deposits is essential for the continuance and development of the industries we represent.Let me review the background and trends of our industry in an attempt to emphasise the changing factors influencing the search for minerals and their exploitation.Australia was blessed with the discovery of coal in New South Wales in 1796; copper in South Australia at Kapunda, Burra, Wallaroo and Moonta in the eighteen-forties; gold in Victoria and Eastern Australia in the 'fifties; tin at Mount Bischoff, Tasmania, and gold at Charters Towers, Queensland, in the 'seventies; lead-silver at Broken Hill, New South Wales; gold and copper at Mount Morgan, Queensland, and copper at Mount Lyell, Tasmania, in the 'eighties; and gold at Kalgoorlie, Western Australia, and zinc-lead atRosebery, Tasmania, in the 'nineties. As well, the iron ore deposits of the Middleback Ranges, South Australia, and Yampi Sound, Western Australia, were known before...