This article is from the soc.culture.australian FAQ, by Stephen Wales with numerous contributions by others.
This is a brand-name of a New Zealand shoe polish made of paraffin and
?carbon. To "nugget" your shoes is to apply any shoe polish and buff
the footware to shiny clean. Many Australians incorrectly think Nugget
brand shoe polish as a local Australian invention, it is just marketed
very well. [RK]
 
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