China has discovered the world’s largest known deposit of gold, estimated to be worth over $80bn (£63bn).
The deposit gathered at the Wangu goldfield in Central China could yield more than a 1000 tonnes of gold.
Geological Bureau of Human stated, “ The detection of 40 gold veins, which are long and narrow openings in rocks filled with the metal, around a mile deep in Hunan province’s Pingjiang county.”
The geologists continued, “These rocks alone may have 300 tonnes of gold and there could be more reserves at deeper layers.”
Ore prospector and geologist, Chen Rulin, revealed, “Many drilled rock cores showed visible gold.”
All in all, there have been reported to be over a 1000 metric tonnes of the precocious metal at the site at current prices.
For the unversed, global gold prices rose after the discovery was announced, but the long-term trajectory somewhat remained uncertain due to the geopolitical tensions around the world.
It is pertinent to note that the Wangu goldfield is one of China’s most critical mining hubs.
China is seemingly a global leader in mining, documenting the production of metals used to make new generations of batteries and electronics.
