An immense gold deposit has recently been identified in the Hunan province of China, with estimated reserves of over 1,000 tons. This colossal discovery has the potential to not only transform China’s economy but also the dynamics of the global gold market. China is the largest producer of gold ore in the world. Experts suggest that at greater depths, even larger quantities of gold may be found.
Geologists in the Hunan province have announced the identification of over 40 gold veins in the Wangu field, located in the Pingjiang district.
A discovery of historical proportions
At a depth of 2,000 meters, reserves are estimated at 300 tons, but data suggests that at 3,000 meters they exceed 1,000 tons, with a value of approximately 83 billion US dollars.
"Many of the drilling cores have shown visible gold," said Chen Rulin, an expert in mining exploration, cited by the Chinese news agency Xinhua.
Laboratory analyses indicate that each ton of ore could contain up to 138 grams - an extraordinarily high concentration level, considering that excavated ore is deemed high quality if it contains more than 8 grams per ton, as shown by Science Alert.
This discovery could alter the course of the global mining industry.
China, a leader in gold production
China is already the world's largest gold producer, with an annual production of 377 tons, according to the China Gold Association.
However, in terms of total proven reserves, the Asian country is surpassed by South Africa, Australia, and Russia.
The new discoveries in Hunan and other regions could change this ranking and strengthen China's control over the global gold market.
Furthermore, the use of 3D geological modeling and other advanced technologies suggest that underground resources are much more extensive than previously estimated.
Gold plays an essential role not only as a financial protection element but also in industry, being used in electronics and aerospace.
D.D.