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This posture, with abdomen raised vertically, is typical of the species. Despite appearances, they don't sting ... but they can bite.
This subspecies is common in arid and semi-arid woodlands across southern Australia (ref. 4).
Some Camponotus species nest in wood ... hence one of their common names, 'Carpenter Ants' ... but this colony was definitely excavating soil. The diggings forming the mound was evidence of a lot of past work.
Excavations ongoing.