A significant gold deposit has been discovered in China’s Hunan province, potentially one of the largest ever found. Estimated to contain over 1,000 metric tons of gold, the find is valued at approximately €78 billion. This discovery could reshape global gold reserves while addressing China’s domestic demand for the precious metal.
By August Roberts
Unveiling a Treasure Beneath Hunan
Geologists uncovered this massive deposit beneath the known Wangu Goldfield in Hunan province. Using advanced techniques like geophysical surveys and 3D modeling, researchers revealed 40 gold-bearing veins within the upper 6,560 feet of the site, accounting for an estimated 300 metric tons of extractable gold. Preliminary findings suggest the deposit extends to depths of nearly 10,000 feet. The presence of visible gold in drill cores has heightened anticipation of the site’s full potential.
A Rare Element with Intriguing Origins
Gold’s scarcity in Earth’s crust makes such finds exceptionally rare and valuable. Experts speculate that geological processes like hydrothermal activity, earthquakes, and microbial action contributed to the concentration of gold in this region. Notably, the deposit’s ore shows gold concentrations as high as 138 grams per metric ton, a figure that underscores the richness of the find. The ongoing exploration may provide further insights into the formation of such massive deposits.
A New Global Benchmark
If estimates prove accurate, the Hunan deposit could surpass South Africa’s South Deep Goldmine, currently holding the title for the largest known gold reserve with 930 metric tons. At over 1,000 metric tons, the Chinese discovery would represent an unprecedented addition to the global inventory of gold. Analysts note that this discovery is unlikely to influence international gold markets directly, as China’s domestic demand far exceeds its production capacity.
Gold’s Strategic Role in China
The discovery aligns with China’s strategy to reduce dependence on gold imports. Currently, the nation consumes approximately three times the gold it produces, making this find strategically significant. While the deposit will primarily serve domestic needs, its broader economic and industrial implications are substantial.
China’s newly discovered gold deposit highlights the immense potential of geological exploration in resource-rich regions. With over 1,000 tons of estimated reserves, it could redefine the country’s approach to gold production and supply. As China moves toward greater resource self-sufficiency, the discovery may also have global economic implications.
Based on information from www.scinexx.de and own research.