China has made a remarkable discovery of the largest gold reserve in the world, located in the Wangu gold field in Pingjiang County, Hunan Province.
As per trusted report, newly found deposit boasts over 1,000 metric tons of high-quality gold ore, estimated to be worth around $83 billion.
The Geological Bureau of Hunan Province reported the identification of 40 gold veins within a depth of 2 kilometers, and further 3D modeling indicates that there may be even more reserves at greater depths.
This discovery eclipses the previous record holder, the South Deep mine in South Africa, which contains about 900 metric tons of gold.
The high-grade ore in the Wangu gold field has an impressive concentration of 138 grams of gold per metric ton, far exceeding the typical high-grade ore standard of 8 grams per metric ton.
As a leading gold producer, accounting for roughly 10% of global output, China anticipates that this discovery will enhance its gold industry and lessen its dependence on imports. The announcement has also triggered a rise in global gold prices, highlighting the significant influence of this find on the market.
