A significant gold deposit has been found in central China, containing around 1,000 metric tons of gold. This discovery, valued at over US$80 billion, is considered one of the largest and most lucrative gold reservoirs ever uncovered.
The Geological Bureau of Hunan Province announced the detection of 40 gold veins within a depth of 2 kilometers in the northeast Hunan county of Pingjiang. These veins alone were estimated to hold 300 metric tons of gold, with potential for additional reserves up to 3 kilometers deep.
According to Chen Rulin, a prospector from the bureau, many drilled rock cores showed visible gold, suggesting a high level of quality. Each metric ton of ore could contain up to 138 grams of gold, far exceeding the industry standard for high-grade ore.
This discovery adds to China’s dominance in the global gold market, with the country already possessing reserves exceeding 2,000 tons. The announcement of this find has contributed to a rise in gold prices, reflecting the increasing demand for this precious resource.
There is still uncertainty about the total amount of gold reserves left to be discovered worldwide. Experts are divided on whether we have reached peak gold, as the formation of gold is a slow process that takes millions of years.
Recent years have seen other notable gold discoveries, such as a large nugget found in England and new research in Australia suggesting seismic activity may play a role in the formation of gold. Scientists are also exploring innovative ways to manipulate gold, including the creation of a two-dimensional form known as ‘goldene’.
Although gold has been valued for centuries, there is still much to learn about this precious metal. The new discovery in China highlights the ongoing importance of gold exploration and research in uncovering the mysteries of this ancient resource.
