1,000 tonnes of GOLD worth $80 billion discovered in China: Look at world's largest deposits of precious metal
By Shweta Kumari | First Published Nov 30, 2024, 7:00 AM ISTThe world's largest gold deposit has been discovered in China's central Hunan province - and geologists believe it could hold 1,000 tonnes of the precious metal.
The world's largest gold deposit has been discovered in China's central Hunan province - and geologists believe it could hold 1,000 tonnes of the precious metal. At current prices this 'supergiant gold deposit' could be worth more than $80 billion (£63bn), making it the richest source of gold on the planet.
Scientists from the Geological Bureau of Hunan Province (GBHP) say they have discovered more than 40 veins beneath the Wangu gold field in Pingjiang County.
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According to the Chinese state Media, with an estimated value of 600 billion yuan, which is approximately Rs 6,91,473 crore, this may be the world's largest gold reserve, surpassing the 930 metric tonnes found in South Deep Mine, South Africa. This discovery has significant implications for China's gold industry, potentially boosting the nation's mining and economic capabilities.
A look at world's largest gold deposits
- China, Pingjiang County: 1,000 tonnes
- South Deep, South Africa: 929 tonnes
- Grasberg, Indonesia: 856 tonnes
- Olimpiada, Russia: 737 tonnes
- Lihir, Papua New Guinea: 680 tonnes
- Norte Abierto, Chile: 657 tonnes
- Carlin Trend, Nevada 353 tonnes
- Boddington, Australia: 350 tonnes
- Mponeng, South Africa: 330 tonnes
- Pueblo Viejo, Dominican Republic: 309 tonnes
- Cortez, Nevada: 246 tonnes
Drilling shows there are already more than 300 tonnes of gold just in the veins less than 2,000m (6,500ft) deep. However, further 3D modelling suggests there are veins holding an additional 700 tonnes extending down to a depth of 3,000m (9,800ft).
Rock samples taken at the site show that every tonne of ore could contain as much as 138 grams of pure gold.
According to DailyMail, Chen Rulin, an ore-prospecting expert at GBHP, told state media, 'Many drilled rock cores showed visible gold.'
Liu Yongjun, vice head of the bureau, said that new ore prospecting technologies, such as 3D geological modeling, had been used at the Wangu gold field. Gold was also found during drills around the site's peripheral areas, unearthing promising prospects, Liu said.
Notably, Chinese officials have not yet announced plans to develop the site but it is likely that the Wangu gold field will soon become one of the country's biggest mining projects.
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