Geologists in China's Hunan Province have discovered one of the largest known gold deposits, dubbed a "supergiant" ore body, located beneath the Wangu field in Pingjiang County.
The deposit is estimated to contain around 1,1 thousand tons of gold, worth over 83 billion USD. According to state media, more than 40 gold veins have been discovered, extending up to three thousand meters deep, while 3D models show that the gold mass can descend up to three kilometers, reports Biznis.ba.
Analyses indicate an exceptionally high concentration of gold – as much as 138 grams per ton of ore, which is rare even in the world's largest mines, reports Popular Mechanics. If these estimates are confirmed, the new deposit could surpass South Africa's South Deep mine, which currently holds the record with 1,03 thousand tons of gold.
China is already the largest gold producer in the world, with around ten percent of global production, but also the largest consumer and importer, as it consumes three times more gold than it produces.
According to Liu Yongjun of the Hunan Provincial Geological Bureau, additional gold structures have been found around the main deposit, suggesting that the total reserves could be even higher.
Globally, about 233 thousand tons of gold have been mined so far, two-thirds of which were extracted after 1950. The new Chinese deposit, if it confirms its full potential, could significantly change the global mining industry and further strengthen China's position in the global gold market.
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