Worlds Largest Gold Reserve Found in China

[phrunt]

The world’s largest gold deposit has been discovered in China.

Geological Bureau of Hunan Province (GBHP) scientists claim to have found 300 tonnes of the metal just 2000 metres under the ground at Wangu gold field.

Drilling indicates there are more than 1000 tonnes in reserves that sit at about 3000 metres below the surface.

It is estimated to be worth 600 billion yuan. That is the equivalent of $127.3 billion Australian dollars.

See the article here

[Valens Legacy]

Simon,

I had read the same article before coming to the forum, nobody knows for sure just what is underground in China.

In such a vast region there must be more than one could ever imagine.

[MSC]

That is a long way down, can they really mine it that far down?

[1491]

"It is believed there are 138 grams of gold per metric ton of ore — which is much higher than usual."

Someone clever should make a parallel estimate for my beaches on the average summer day. 🤣

[Gold Seeker]

3 hours ago, MSC said:

That is a long way down, can they really mine it that far down?

No problem, as long as they have deep pockets!!

The deepest gold mine in the world is in South Africa, it is over 4 kilometers or 13,000 feet deep, that is 4000 meters.

There are also many more around the world that are almost that deep and plenty that are 2 to 3 times that deep, most of the deepest are in south africa.

https://en.wikipedia.org/wiki/List_of_deepest_mines 

 

[chrisski]

Gets hot that deep.  Temp could go up 75 degrees per mile going down.https://en.wikipedia.org/wiki/Geothermal_gradient

[King-Of-Bling]

I wouldn't trust anything China says. Gotta see it to believe it.

[Drellim]

Good point so why are they buying so much gold these days May be to get a heads start they do plan for 100 yrs  ahead not like us 20  yr  planers 

[Hard Prospector]

If this is indeed true, they'll get it up to the surface. Plenty of cheap labor for sure and working conditions probably not so much of an issue as in the US