‘Earth’s largest gold mine’: China hits a 1,100-ton motherlode unseen till now
Produced by: Manoj Kumar
Massive Discovery
China has uncovered a “supergiant” gold deposit in Hunan Province, valued at $83 billion, potentially the largest natural gold stockpile on Earth.
Credit : Xinhua
Golden Depths
Drilling revealed 40 veins of high-quality gold ore at Wangu gold field, with deposits found as deep as 6,600 feet. Experts predict untapped reserves could reach 1,100 tons.
Record Quality
With up to 138 grams of gold per metric ton of ore, the new site’s quality surpasses most global gold mines, according to Chen Rulin of the Geological Bureau of Hunan Province (GBHP).
Global Impact
News of the discovery spiked global gold prices to $2,700 per ounce, just shy of an all-time high, highlighting the discovery’s economic ripple effect.
Rival Reserves
The deposit may surpass South Africa’s South Deep mine, previously considered the largest known gold reserve with 1,025 tons of gold.
Peripheral Promise
Additional gold veins found near the Wangu site hint at more large deposits waiting to be unearthed, fueling speculation of even greater finds.
Credit : Xinhua
Domestic Demand
Despite being the world’s top gold producer, China consumes triple its output annually. The new deposit could meet domestic needs for only 1.4 years.
Historical Context
More than two-thirds of all gold in human history—234,332 tons—has been mined since 1950. If melted into a cube, it would measure just 72 feet across.
Future Potential
Mining experts are using 3D modeling to explore deeper reserves, with predictions that depths up to 9,800 feet may contain significant untapped gold.