In 1882, a syndicate was created to open a gold mine at Ironstone Mountain, 39 kilometres (24 mi) south of Rockhampton, Queensland. The syndicate comprised William Knox Darcy (later influential in establishing the Anglo Persian Oil Company), Walter Russell Hall (later influential in establishing the Walter and Eliza Hall Institute of Medical Research), Thomas Skarratt Hall, and Thomas, Frederick and Edwin Morgan. Ironstone Mountain was later renamed Mount Morgan after the Morgan members of the syndicate.