World's Largest Gold Deposit Found in China, Worth Over $80 Billion

TDT | Manama
Email : editor@newsofbahrain.com

A groundbreaking discovery in central China has unveiled what may be the world's largest and richest gold deposit. Estimated at approximately 1,000 metric tons of high-quality gold ore, the find is valued at 600 billion yuan (US$83 billion). This discovery, reported by Chinese state media, places it ahead of the South Deep mine in South Africa, which contains an estimated 900 metric tons of gold reserves.

The Geological Bureau of Hunan Province revealed that 40 significant gold veins were detected at depths of up to 2 kilometers in Pingjiang County. Early core samples indicated an exceptionally high-grade quality, with up to 138 grams of gold per metric ton of ore. Geologists predict that reserves might extend even deeper, potentially reaching depths of 3 kilometers.

“Many drilled rock cores showed visible gold,” said Chen Rulin, a lead prospector with the bureau.

China, already a dominant player in the global gold market, is set to bolster its position with this latest discovery. The country's gold reserves were estimated at over 2,000 metric tons earlier this year, contributing around 10% of the global output.

The announcement has further driven up gold prices worldwide as global uncertainties fuel demand for this precious resource. Experts remain divided on whether Earth's gold resources are nearing their peak, but this discovery hints that economically viable reserves might still await discovery.