- Reaction score
- 4,218
- Location
- Upper US
China discovered the world's largest gold deposit, alarming markets
A massive gold deposit buried deep in China's Hunan province is reshaping the future of . Tucked beneath the Wangu gold field in Pingjiang County, the site may hold as much as 1,100 tons of gold ore.
If confirmed, this would surpass all known precious metal reserves on Earth. That includes the famed South Deep mine in South Africa, which holds around 1,025 tons. The find could shift the global center of gold production.
Initial exploration work uncovered more than 40 across the site. These veins lie at extreme depths—many more than 6,600 feet below the surface. Early estimates placed the deposit at 330 tons. But new 3D geological models soon revealed something even more extraordinary.
Data now suggest the deposit stretches as far down as 10,000 feet. At that depth, geologists from the project a possible reserve nearing 1,100 tons. The site’s value could reach $83 billion, or roughly 600 billion yuan, making it a cornerstone of China’s resource wealth.
The quality of the ore adds even more weight to the discovery. Some samples have shown as much as 138 grams of gold per metric ton—a far richer yield than most gold mines offer. “Many drilled rock cores showed visible gold,” said Chen Rulin, a senior expert with the geological team.
Such richness is rare in modern mining. Most commercial mines operate on far leaner concentrations. The high-grade material found here could drive down extraction costs and accelerate development efforts at the site.
Global markets quickly reacted. jumped to $2,700 per ounce after the announcement. That price nears all-time highs. With global tensions rising, investors are again looking to gold as a hedge. This find may only fuel that trend further.
