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The Golden Age of the Dwarves, referred to also as the Age of Prosperity by some dwarves, is a period of time in the history of Keldagrim, the dwarven capital city. It is preceded chronologically by the Rise of the Consortium, and then the Age of Kings.
The Golden Age began roughly 500 years ago, during the late Fourth Age. At the time, Keldagrim was still hidden from the surface due to the dwarves' belief that the God Wars, which had nearly forced them to extinction, were still raging on the surface (when they had really ended some 1,600 years before).
The death of King Alvis brought about a monumental change of government in Keldagrim. The monarchy, which had become increasingly weak following King Alvis's founding of The Mining Consortium, had lost nearly all of its power and purpose. The Consortium, a collection of 8 mining companies that was originally intended to serve the monarchy, had gained much wealth and power in a very short amount of time. It was decided that a new king would not be put in place and that the Consortium would peacefully take over rule of the city.
The rule of The Mining Consortium quickly brought about a great improvement of Keldagrim. While the city had always been prosperous, the Golden Age brought about a massive number of technological advancements that, even today, remain the most advanced in Gielinor.
Easily the most notable of these advancements was the development of steam engine technology. Using power gathered from turbines, which were turned using the steam from heated water, the dwarves were able to create many new inventions. The water supply from the River Kelda was, and still is, virtually endless, as it is formed by melting snow from atop Trollweiss Mountain.
Transportation became considerably easier with the creation of steam-powered ships and mine carts. The ships, which could travel along the River Kelda, allowed for easier transport of ore, equipment, miners, and other supplies. This, in turn, allowed the dwarves to extend their already impressive mine network to include caves further down the river. Mine carts contributed even more to the dwarves, allowing them to travel many miles to other mines and settlements. Steam engine technology was useful to individuals as well. Improved furnaces, crushing machines, and heating systems were also during the Consortium's rule.
The economic situation of Keldagrim is also believed to have improved, and the Consortium's wealth grew even further. It is speculated that the Dwarven Black Guard and Keldagrim Marketplace may have been either created or improved during this time.
The dwarves are in their Golden Age even today, and progress has not slowed. Following the revelation of Keldagrim in the year 169 of the Fifth Age, the dwarves became much more diplomatic. A treaty was formed with the Dorgeshuun with the assistance of the Consortium's Ambassador Alvijar. This eventually led to the construction of the Dorgesh-Kaan - Keldagrim Train System. The Consortium also appears to be involved with the Grand Exchange in Varrock, sending a business dwarf named Hofuthand to the Exchange. Technologically, the dwarves continue to advance, creating the massive blast furnace and the dangerous Dwarf Cannon.
The Golden Age does not seem threatened, although some issues have arose. The Red Axe, the most powerful company in the Consortium, left the city during The Giant Dwarf, and the H.A.M. cult seems set on forcing the dwarves to extinction. Rumour of Arposandra's involvement has also been a cause for concern.