World's largest gold reserve discovered in China

Geologists in China's central Hunan Province have identified what is believed to be the world's largest gold deposit, containing around 1,000 metric tons of high-quality gold ore. This deposit is estimated to be worth approximately $83 billion.

Key Details: Location: The deposit is located in Pingjiang County in Hunan Province. Gold Veins: Around 40 gold veins have been identified at depths of up to 2 kilometers. These veins alone hold 300 metric tons of gold.

Gold veins are natural formations of gold that occur in rocks, typically in quartz or other host minerals. Quality: Preliminary assessments indicate that each metric ton of ore could contain as much as 138 grams of gold, which is exceptionally high quality.

This is particularly remarkable given that ore from underground mines is typically classified as high-grade if it contains over 8 grams. Potential: Advanced 3D modeling suggests that additional reserves may exist at even greater depths, possibly reaching up to 3 kilometers.

China already dominates the world's gold market with reserves considered to be in excess of 2,000 tons earlier in 2024.