Australium was discovered in its namesake country, Australia.
Prolonged exposure to Australium increases both intelligence and virility. Outward signs of exposure include increase in muscle mass, love of fighting, heavy drinking, as well as increased growth of facial hair, even in women.
The discovery of Australium has been the cause of Australia's rapid technological advancement. Said advances include cloaking devices, teleportation devices, and the "entire spectrum of moustache sciences".
Australium is seen to be sold and exchanged in the form of solid bars, similar to the way gold is often reserved and stored. Despite sharing similar appearance properties to gold, such as a similar color and the level of reflectivity, bars of Australium can be identified by the unique logo of a lone figure boxing a kangaroo, one of Australia's most iconic animals. This act of boxing between the kangaroo and the figure is supposedly how Australia chooses their next rightful king.
Australians are known to be very secretive about Australium, therefore allowing them to continue to outpace the rest of the world in the technological race.