According to international media reports, the Henan Academy of Geology uncovered over 300 tons of gold at a depth of more than 2,000 meters. This is being described as the largest gold reserve ever discovered in China, and potentially in the world. The group that made the discovery stated that there are even more gold reserves, with estimates of an additional 1,000 tons at a depth of 3,000 meters.
The discovery is significant not only for its size but also for the potential economic impact it could have. At current market prices, the 300 tons of gold are valued at roughly $83 billion, a discovery that could significantly boost China’s position in the global gold market.
China is already the world’s largest producer of gold, responsible for about 10% of the global supply. With this new find, China’s gold reserves are expected to grow even further, further solidifying its role as a key player in the precious metals market.
The discovery has sparked widespread excitement in the country, with experts saying it could lead to new technological advancements in mining and gold production. However, it will take time before the full scale of the reserves can be accessed, as mining at such great depths presents technical challenges.
Despite these challenges, China’s continued investment in exploration and mining technology is expected to strengthen its position as a global leader in gold production. This major discovery highlights China’s growing influence in the global economy and its ability to tap into valuable natural resources.
