World's Largest Gold Deposit Found In China, Valued At A Staggering Rs 7 Lakh Crore

A massive gold deposit in Central China is believed to contain 1,000 metric tonnes (1,100 US tonnes) of high-quality ore, according to the state media. The Geological Bureau of Hunan Province confirmed the discovery in Pingjiang County, located in the northeastern region of the province.

According to the Chinese State Media, with an estimated value of 600 billion yuan, which is approximately Rs 6,91,473 crore, this may well be the world's largest gold reserve, surpassing the 930 metric tonnes found in South Deep Mine, South Africa.

Preliminary explorations revealed 40 gold veins within a depth of 2 kilometres, holding about 300 metric tons of gold. Advanced 3D modelling suggests the presence of additional reserves at greater depths, possibly reaching 3 kilometres. This discovery has significant implications for China's gold industry, potentially boosting the nation's mining and economic capabilities.

"Many drilled rock cores showed visible gold," said Chen Rulin, an ore-prospecting expert at the bureau, adding that a tonne of ore in the 2,000-meter range contained a maximum of 138 grams of gold.

Liu Yongjun, vice head of the bureau, said that new ore prospecting technologies, such as 3D geological modeling, had been used at the Wangu gold field. Gold was also found during drills around the site's peripheral areas, unearthing promising prospects, Liu said.

According to Mining Technology, the largest known gold reserves in the world prior to the discovery of the Chinese gold deposit include:  

1. South Deep Gold Mine - South Africa  
2. Grasberg Gold Mine - Indonesia  
3. Olimpiada Gold Mine - Russia  
4. Lihir Gold Mine - Papua New Guinea  
5. Norte Abierto Gold Mine - Chile  
6. Carlin Trend Gold Mine - USA  
7. Boddington Gold Mine - Western Australia  
8. Mponeng Gold Mine - South Africa  
9. Pueblo Viejo Gold Mine - Dominican Republic  
10. Cortez Gold Mine - USA  

These mines represent the most significant natural gold reserves identified worldwide to date.