China has discovered the world's largest gold reserve in Hunan Province, with 1,000 metric tons of high-quality gold ore worth $83 billion. The discovery is set to boost China's dominance in the global gold market and impact gold prices worldwide.
In a groundbreaking discovery, China has reportedly uncovered the world's largest gold reserve in the Pingjiang County of Hunan Province, a find that has already sent global gold prices soaring. According to Chinese state media, approximately 1,000 metric tons of high-quality gold ore, valued at an astounding $83 billion, have been discovered, surpassing the previous record held by the South Deep mine in South Africa, which contained 900 metric tons of gold.
Geologists from the Geological Bureau of Hunan Province made the remarkable find after exploring gold veins deep within the region. These veins were located at depths of up to 2 kilometers, with preliminary assessments suggesting they could contain up to 300 metric tons of gold. Further research, aided by advanced 3D modeling technology, indicates that additional gold deposits could lie at even greater depths, potentially extending up to 3 kilometers.
Chen Rulin, a senior prospector at the Hunan Geological Bureau, stated that visible gold was found within drilled rock cores, a sign of the exceptional quality of the ore. Core samples suggest that every metric ton of ore could yield approximately 138 grams of gold. This discovery is particularly significant as underground gold ore is typically considered high-grade if it contains more than 8 grams of gold per metric ton.
The discovery marks a major milestone in China's gold exploration efforts, further solidifying its dominance in the global gold market. With current reserves estimated at over 2,000 metric tons, this new find is expected to significantly bolster China's gold industry, which already accounts for about 10 percent of the world's total gold production.
How these Gold Reserves Were Found:
The gold reserves were discovered through an extensive geological survey carried out by experts from the Geological Bureau of Hunan Province. The team employed advanced drilling techniques to explore rock cores at depths of up to 2 kilometers, where they uncovered visible traces of gold. Using cutting-edge 3D modeling technology, the geologists identified potential deeper gold veins extending as far as 3 kilometers below the surface, offering the prospect of even more significant reserves in the future.
