'Supergiant' gold deposit discovered under China could be biggest in world worth $83B

A “supergiant” deposit of high-quality gold ore discovered in China may be one of the largest and most lucrative reservoirs of gold ever discovered. The enormous gold deposit was found in central China's Hunan Province back in November 2024, the Geological Bureau of Hunan Province told Chinese state media. Workers at the Wangu gold field came across more than 40 gold veins that contained 330 tons of gold down to a depth of 6,600 feet.

However, mining experts have used 3D computer models to uncover a gold reserve even more staggering. They predict there could be up to 1,100 tons of the precious metal buried at depths of up to 9,800 feet, surpassing the 990 tons estimated to lie within the South Deep mine in South Africa, the largest known remaining gold reserve on Earth.

The vast reserve in China has been valued at up to approximately 600 billion yuan or $83 billion. "Many drilled rock cores showed visible gold," bureau prospector Chen Rulin said at the time of the discovery.

Samples suggested every metric ton of ore could contain as much as 138 grams of gold, which is relatively high compared to most other gold mines. More gold was also discovered around the reserve's "peripheral areas," suggesting there are large deposits waiting to be uncovered.

Some experts are not yet convinced about the deposit's size and feasibility but if the discovery is verified it marks a major find for China. The country already dominates the global gold market, with its reserves reportedly in excess of 2,000 tons earlier in 2024.

Source: https://www.the-express.com