CHINA DISCOVERS 168 TONS OF GOLD RESERVES

Asia World

Wed 22 January 2025:

China said it has discovered a total of 168 tons of gold reserves at three mining sites.

The China Geological Survey of the Ministry of Natural Resources said that 102.4 tons of gold reserves were found in the Anbali North mining area in Gansu Province, 41.3 tons from the Hadamengou mining area in the Inner Mongolia Autonomous Region, and 24.3 tons from the Baoxinggou mining area in Heilongjiang Province.

In November last year, more than 1,000 tons of gold reserves were discovered in the Wangu Goldfield, a gold mine in Pingjiang County, Hunan Province.

The government has recently been stepping up efforts and investments in finding critical mineral resources.

On Jan. 18, it was announced that a rare earth element deposit was discovered in Yunnan province totaling approximately 1.15 million tons.

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In November 2024, Chinese geologists announced the discovery of a “supergiant” gold deposit in Pingjiang County, Hunan Province. This deposit, located within the Wangu gold field, is estimated to contain over 1,000 metric tonnes of high-quality gold ore, valued at approximately $83 billion.

 The discovery includes more than 40 gold veins identified at depths of up to 2,000 meters, with projections of additional reserves extending to 3,000 meters.
 This find potentially surpasses the world’s current largest known gold reserve, the South Deep Mine in South Africa, which holds around 930 metric tonnes.
 
While this discovery could significantly bolster China’s gold reserves and influence global markets, the World Gold Council has expressed skepticism, noting that further verification is needed to confirm the deposit’s size and quality.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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