World’s Largest Gold Deposit Discovered in China Worth £63 Billion

The largest gold deposit in the world, worth over £63 billion, has been found in China. Geologists estimate that more than 1,000 tonnes of gold could be extracted from this supergiant deposit. This amount of gold could produce around 500 million rings.

The discovery occurred at the Wangu gold field in Hunan Province. Geologists identified over 40 veins filled with gold in Pingjiang County. Drilling has revealed that more than 300 tonnes of gold exist within the veins located around 2,000 meters deep. Using 3D modeling, scientists predict that these veins may extend to depths of 3,000 meters and hold an additional 700 tonnes of gold.

The discovery not only has a significant quantity of gold but also contains high-quality gold. Tests show that each tonne of ore contains approximately 138 grams of pure gold, well above the minimum grade of eight grams per tonne for high-quality gold.

Geologist Chen Rulin confirmed visible gold in many drilled rock cores and noted the potential for more gold near the site’s outskirts. Plans for developing the site are yet to be announced by officials.

Before this find, the biggest gold site in China was the Xiling gold mine, with around 600 tonnes of gold. South Africa’s South Deep mine is the largest known gold mine globally, containing about 929 tonnes of gold.