Hey neat - it's like the Internet Archive for Australia, but since it's run by libraries it even has a collection development policy!
The purpose of the PANDORA Archive is to collect and provide long-term access to selected online publications and web sites that are about Australia, are by an Australian author on a subject of social, political, cultural, religious, scientific or economic significance and relevance to Australia, or are by an Australian author of recognised authority and make a contribution to international knowledge.
Link: Pandora Archive - Preserving and Accessing Networked Documentary Resources of Australia.