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Waterloo is a locality consisting of a collection of farms and houses approximately 9 kilometres (5.6 mi) north of the town of Beaufort, Victoria and 162 kilometres (101 mi) west north west of the state capital of Melbourne.
It was originally settled during the Victorian gold rush as part of the Baxter lead alluvial Gold Mining Precinct, Waterloo Post Office opening on 1 November 1860 and closing in 1965.
The locality is the birthplace of Ernest Chinnery (5 November 1887- 17 December 1972), an Australian anthropologist and public servant who worked extensively in Papua New Guinea and visited communities along the Sepik river.
During World War I many men from Waterloo served in the 57th Battalion, 2nd Reinforcement of the Australian Army.
Recently a national equestrian endurance identity, the Harrison F-Trucks Endurance Team, set up their headquarters in Waterloo. Ideal training environment in the beautiful Waterloo State Forest and a wonderful community spirit within the Pyrenees Shire.
Endurance horse riding has been a regular feature at the former Waterloo Recreation Grounds. After many years absence this event is returning with a series of Endurance Rides now known as the Waterloo Community Cup. International riders from Singapore, Malaysia and the U.K will join riders from all over Australia and Victoria. The Waterloo Community Cup will attract overseas interest and assist to put Waterloo on the international stage and generate much needed funds into the local community.