China finds the greatest underground gold mine in the world, valued at over $80 billion.

China finds a gold trove worth over 80 billion dollars, the greatest in the world.
The greatest underground gold resource in the world, valued at over $80 billion, is found in China.
The largest known gold deposit in the world, estimated to be worth over $80 billion, was discovered in China. According to the Hunan Geological Bureau, this enormous discovery, which is situated in the Wangu goldfield in central China, has the potential to produce over 1,000 tons of gold.

At a depth of almost one mile, the location in Pingjiang County, Hunan Province, has 40 gold veins—long, thin channels that are packed with gold. There may be more gold reserves at deeper depths, as early test drilling has already yielded 300 tonnes of gold.

Additional test holes have discovered more gold in the site’s surrounding areas, indicating that the deposit may be significantly larger. Drilled rock cores have also shown visible gold.

It might yield over 600 billion yuan, or over $83 billion (£65 billion), if the gold resource is fully developed. Global gold prices have increased as a result of this discovery, while geopolitical conflicts throughout the world cast doubt on future trends.

In light of global uncertainty and China’s growing need for gold, the discovery is also viewed as essential to bolstering resource security in the nation.

With about 100 million yuan invested in mineral research, the Wangu goldfield is a crucial mining region for China. In addition to producing about 10% of the world’s gold as of 2023, China leads the world in mining and the manufacture of precious metals, especially for the expanding electronics and battery industries.

Along with attempts to lower carbon emissions from mining operations, the country is a leader in the development and export of mining technologies.

China finds the greatest underground gold mine in the world, valued at over 80 billion dollars.
China finds the greatest underground gold mine in the world, valued at over $80 billion.
With an estimated value of over $80 billion, China has discovered the largest known gold deposit in the world. The Geological Bureau of Hunan estimates that this enormous discovery, which is situated in the Wangu goldfield in central China, might produce over 1,000 tonnes of gold.

There are 40 gold veins—long, thin channels that are packed with gold—at a depth of almost one mile at the location in Pingjiang County, Hunan Province. 300 tonnes of gold have already been found during early test drilling, and there may be further reserves at deeper levels.

Gold has also been apparent in rock cores that have been drilled, and more gold has been discovered by test drills in the site’s surrounding areas, indicating that the deposit may be substantially greater.

The complete realization of the gold deposit might yield over 600 billion yuan, or over $83 billion (£65 billion). Global gold prices have increased as a result of this finding, but future trends are still unpredictable because of ongoing geopolitical tensions.

The discovery is also viewed as essential for bolstering China’s resource security, given the country’s rising demand for gold amid global unpredictability.

China has invested around 100 million yuan in mineral exploration in the Wangu goldfield, making it a crucial mining region. About 10% of the world’s gold is produced in China as of 2023, and the country leads the world in mining and the manufacturing of precious metals, especially for the expanding electronics and battery industries.

The country is also at the forefront of mining technology development and export, including initiatives to lower carbon emissions from mining operations.