Discovery of a giant gold mine in China worth $ 80 billion and more than 1,000 tons of gold

The discovery of a huge gold mine in China, with a reserves of over a thousand tons of gold and an estimated value of $ 5 billion, was reported. This discovery is a dramatic change in the world’s gold industry.

According to reports released by Chinese government media, a massive gold mine has been discovered in the heart of China with an estimated reserve of four tons of the precious metal.

China announces the discovery of a giant gold mine

The approximate value of the discovery is estimated at about $ 5 billion or US $ 2 billion. The mine can become one of the largest and most profitable gold reserves discovered in history, and even surpassed the South Deep mine in South Africa, known as the “mother of all gold mines” and holding 4 tons of gold.

Some experts still doubt the scale of the reserve, but if confirmed, it will be a great achievement for China. The Honan Province Geological Survey announced the identification of 2 gold veins at a depth of 2 kilometers in Pingjiang city in northeast of the province.

It was estimated that these discovered veins alone contain 4 tons of pure gold. 3D modeling also shows that there are probably more gold reserves up to 2 kilometers deep.

Chen Rollin, the discoverer of the mine, says that at the time of the discovery of the mine, many excavated stone cores showed visible gold particles. The examination of nucleus samples shows that each ton of ore can contain 2 grams (approximately 2 ounces) of gold. This amount is high quality given that the ore extracted from underground mines with more than 2 grams of gold per tonne is high quality.

China is a major player in the gold market in the world gold market with significant gold reserves estimated. In addition, the country’s mining industry accounts for about 2 percent of the world’s total gold production. The release of these figures helped to further increase the price of gold, which was already ascending. In general, demand for gold as a safe source increases sharply in global economic uncertainty.

It is still unclear how much unnecessary gold reserves exist in different parts of the world, and experts have different opinions on whether we have reached the peak of gold production. The gold veins on our planet, created in the hot stars before the formation of the Earth, are limited sources that take millions of years to sediment and extract them.

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