China has discovered the world’s largest known gold deposit, valued at over $80 billion. The find, located in the Wangu goldfield in central China’s Pingjiang County, Hunan Province, could yield more than 1,000 tonnes of gold, according to the Geological Bureau of Hunan.
The deposit features 40 gold veins at a depth of about one mile. Early drilling has revealed 300 tonnes of gold, with further reserves potentially deeper in the ground.
Rock samples have shown visible gold, and additional drilling has uncovered more gold in surrounding areas, indicating the deposit could be even larger. If fully extracted, the gold could generate around 600 billion yuan ($83 billion). This discovery has led to an increase in global gold prices, though future trends are uncertain due to geopolitical tensions.
With China’s growing demand for gold amid global instability, the find is considered vital for enhancing the nation’s resource security. The Wangu goldfield is a key mining site for China, which has invested nearly 100 million yuan in mineral exploration.
As of 2023, China produces approximately 10% of the world’s gold and is a global leader in mining, especially for industries such as electronics and battery technology.
The country is also at the forefront of developing mining technologies, including those aimed at reducing carbon emissions in mining operations.
