Gold found in China

[Sikodolaukazzz]

USA and Yindiah jealous
Gold prices rose on news of the discovery
lol

China finds world’s largest gold deposit worth over £63 billion​

China says it has discovered the world’s largest known deposit of gold, estimated to be worth over $80bn (£63bn).

The deposit at the Wangu goldfield in central China could yield more than 1,000 tonnes of gold, the Geological Bureau of Hunan was quoted as saying by Chinese state media.

The bureau announced the detection of 40 gold veins, which are long and narrow openings in rocks filled with the metal, around a mile deep in Hunan province’s Pingjiang county. These rocks alone may have 300 tonnes of gold and there could be more reserves at deeper layers, geologists said.

“Many drilled rock cores showed visible gold,” Chen Rulin, a geologist and ore prospector at the bureau, said.

Test drills near the site’s “peripheral areas” found more gold, suggesting that the deposit could be even larger.

In all, there could be over 1,000 metric tonnes of the precious metal at the site which, at current prices, would bring in more than 600 billion yuan, or about $83bn (£65bn).

Global gold prices rose after the discovery was announced, but the long-term trajectory remained uncertain due to geopolitical tensions around the world.

The demand for the precious metal has increased in China amid global uncertainties. And the latest find, according to the Hunan Provincial Geological Institute, could be “significant in helping safeguard the country’s resource security”.

The Wangu goldfield is one of China’s most critical mining hubs and the country has invested nearly 100 million yuan for mineral exploration in the area.

China produced about a tenth of the world’s gold as of 2023.

The nation is a global leader in mining, dominating the production of precious metals used to make new generations of batteries and electronics.

It also leads the world in the export of technology for mining, developing new ways to reduce carbon emissions in the process.

 

[Loofydralb]

CCCP still needs to learn from PAP.

Just issue paper and you can collect billions.

 

[red amoeba]

So it’s Xi telling trump that fuck your tariffs lim peh have a lot of gold to use.

 

[cocobobo]

Wouldn't gold prices drop?

 

[Hypocrite-The]

Yankees land and ang mor lands are fucked?

Discovery of the World’s Biggest Gold Deposit: A Treasure Worth Over $80 Billion
A massive new gold deposit has been discovered in central China, valued at an astonishing US$83 billion. With high-grade gold ore spread across 40 gold veins, this find could shift the balance of the global gold market, strengthening China’s economic position. The discovery, which exceeds even the vast reserves of South Africa’s South Deep mine, suggests that significant new reserves may still be hidden beneath the earth’s surface, prompting new questions about the future of gold mining.

Lydia Amazouz
Published on
November 29, 2024
Read : 3 min
In a remarkable feat for the mining industry, a team of geologists in central China has uncovered what is being hailed as the world’s largest gold deposit, valued at a staggering US$83 billion (approximately 600 billion yuan). Located in the Pingjiang County of Hunan Province, this unprecedented discovery could have far-reaching implications for both China’s economy and the global gold market. The discovery, which has captivated the scientific and financial communities, features an estimated 1,000 metric tons of high-quality gold ore, a find that surpasses any known gold reserves, including those at South Africa’s South Deep mine.

A Treasure Trove Beneath the Earth
The gold deposit was located within 40 veins of ore, spread across a depth of 2 kilometers (1.2 miles) below the surface. These veins have been confirmed to contain high-grade gold, with core samples revealing visible gold in many of the rock samples. According to Chen Rulin, a prospector from the Geological Bureau of Hunan Province, “Many drilled rock cores showed visible gold.” This finding is especially significant, as ore excavated from underground mines is typically considered high grade if it contains more than 8 grams of gold per metric ton. The core samples from this new deposit indicate that each metric ton could hold as much as 138 grams of gold, almost 17 times the industry’s standard for high-quality ore.

The discovery of such a vast amount of precious metal beneath Pingjiang County is nothing short of extraordinary. Geologists had already identified a number of gold veins in the region, but the scale of this find has exceeded all expectations. The gold deposit is not only massive in size, but the concentration of gold in the ore is also extraordinarily high, making it one of the richest gold deposits ever uncovered.

This Photo Taken On 20 November 2024 Shows Drilled Rock Samples From The Wangu Gold Field In Pingjiang County, Central China's Hunan Province. (xinhuadai Bin)
This photo taken on 20 November 2024 shows drilled rock samples from the Wangu gold field in Pingjiang County, central China’s Hunan Province. (Xinhua/Dai Bin)
China’s Growing Influence in the Global Gold Market
This discovery further consolidates China’s position as a global leader in gold production and reserves. Earlier in 2024, it was reported that China’s total gold reserves were already over 2,000 tons, and the country’s mining industry contributes about 10 percent of the world’s gold output. With the addition of this new deposit, China’s gold resources are set to expand dramatically, influencing both the global gold market and the economic landscape.

Gold prices, which have been rising amid increasing global uncertainty, surged even further following the announcement of this discovery. As demand for gold continues to climb, especially in uncertain times, the addition of a new, high-quality gold reserve has the potential to shift the balance of power in the global precious metals market. It’s likely that this new deposit will not only support China’s growing industrial needs but will also impact global gold supply and pricing dynamics in the years to come.

The Future of Gold Mining: A Global Shift?
Experts remain divided over the long-term prospects of gold mining, with some suggesting that we may be reaching the limits of economically viable gold extraction. The discovery in Pingjiang, however, challenges this assumption. Core samples taken from the outskirts of the gold-bearing region hint that the gold deposit could extend even further than initially predicted, suggesting that there may be even more gold hidden beneath the Earth’s surface than previously thought. If further exploration confirms these findings, this gold deposit could potentially lead to even more discoveries in the area, dramatically altering the future of gold mining.

As gold continues to play a critical role in both the financial and industrial sectors, the Pingjiang discovery may just be the beginning of a new era in gold exploration. It raises important questions about how much of the world’s remaining gold resources remain untapped and how future technological advancements might make it possible to extract even more precious metal from the earth’s depths.

The full potential of the Pingjiang gold deposit is yet to be determined, but if these early findings hold true, China’s new gold reserve could become the most significant discovery of the 21st century.

 

[congo9]

Will it bring down the price of gold ?
Most likely a scam

 

[eatshitndie]

it’s ccp hype akin to saying tiongcock produces the most prostitutes and has the largest deposit of sperm.

 

[red amoeba]

about time that singapore start digging..maybe we can also find large deposit of diamonds under 38 Oxley.

 

[Narong Wongwan]

Tiong can believe?
Likely a scam
Angmos tried this trick before remember BreX