Underground mining at the Sons of Gwalia began in 1897, and continued until 1963. During this time it produced 2.6 million ounces of gold from depths down to 1,000 metres via an incline shaft (similar in nature to California's Empire Mine). The Sons of Gwalia grew to become the largest gold mine outside of Kalgoorlie, and the deepest of its kind in Australia. The 2.6 million ounces recovered (1897-1963) amounts to approximately USD $1,209,000,000 (AU $1,649,836,461) at 2005 prices.

The 1980s saw the Sons of Gwalia reopen under a new scheme to tap underground resources using more modern and efficient extraction methods. A superpit cut into the original workings, requiring the headframe and winder building be moved. The new operation, which promised an additional 1.6 million ounces of gold, was traded on the Australian Stock Exchange and saw significant growth on paper (through hedging), however the mine itself never delivered; the resulting crash became headline news across the country and sent waves throughout the world's gold trading market.

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