The largest gold deposit in the world, worth an astounding Rs 7 lakh crore, was discovered in China.

According to the state media, 1,000 metric tonnes (1,100 US tons) of high-quality ore are thought to be present in a huge gold mine in Central China. The discovery in Pingjiang County, in the northeastern part of the province, was verified by the Hunan Province Geological Bureau.

With an estimated worth of 600 billion yuan, or roughly Rs 6,91,473 crore, the Chinese State Media claims that this gold resource may surpass the 930 metric tons discovered in South Africa’s South Deep Mine and become the largest in the world.

About 300 metric tons of gold were contained in 40 gold veins that were discovered during preliminary explorations at a depth of two kilometers. Additional deposits may exist at deeper depths—up to three kilometers, according to advanced 3D modeling. China’s gold sector will be greatly impacted by this finding, which could improve the country’s mining and economic capacities.

Chen Rulin shares the statement

“Many drilled rock cores showed visible gold,” in an ore-prospecting expert at the bureau, adding that a tonne of ore in the 2,000-meter range contained a maximum of 138 grams of gold.

The Wangu gold field has made use of advanced mineral prospecting technology, including 3D geological modeling, according to Liu Yongjun, the bureau’s vice head. According to Liu, gold was also discovered during drills conducted in the site’s surrounding areas, which revealed encouraging opportunities.

Prior to the discovery of the Chinese gold deposit, the world’s greatest known gold reserves were as follows, per Mining Technology:  

1. South Deep Gold Mine – South Africa  
2. Carlin Trend Gold Mine – USA  
3. Pueblo Viejo Gold Mine – Dominican Republic  
4. Olimpiada Gold Mine – Russia  
5. Lihir Gold Mine – Papua New Guinea  
6. Grasberg Gold Mine – Indonesia  
7. Norte Abierto Gold Mine – Chile  
8. Boddington Gold Mine – Western Australia  
9. Mponeng Gold Mine – South Africa  
10. Cortez Gold Mine – USA 

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