And millionaire find once again shook the global market for precious metals. In the central Chinese province of Hunanspecialists identified a deposit whose estimated reserves exceed 1,000 tons of gold coinsa figure that places it among the largest deposits discovered so far. As confirmed by official sources, All wealth belongs to China.
The discovery occurred in Wangu gold fieldlocated in the county of Pingjiangat depths ranging from 2,000 to 3,000 meters. There were detected more than 40 veins of goldwhich made it possible to project an exceptional volume of reserves, still in the process of technical verification.
According to the first estimates, the economic value of the deposit would be around 600 billion yuanequivalent to about 83 billion dollarsa figure that explains the immediate impact that the news generated in both the mining sector and the financial markets.
Where was the site found and what makes it unique
The deposit was identified in an area that was already known for its mining potentialbut which had never shown concentrations of this magnitude. Initial drilling revealed 300 tonnes of gold confirmed at 2,000 meters depth, while total projections are well in excess of 1,000 tonnes.
One of the data that caught the most attention of geologists is the high ore grade. In some samples, the concentrations they reached the 138 grams of gold per ton of rocka value much higher than that of traditional commercial mines, which usually operate with less than 10 grams per ton.
Mining prospecting specialists highlighted that the presence of visible gold in drill cores is a rare indicator and is usually associated with deposits of the highest quality, which reinforces the relevance of the find.
How the gold was detected and what technology was used
The discovery was possible thanks to use of advanced exploration technologies, including 3D geological modelingwhich made it possible to accurately map the location and extent of the gold veins underground.
As explained from the Hunan Geological Survey, This type of tools reduces the margin of error and allows detecting deep deposits that cannot be identified with traditional methods. In addition, signs of gold were recorded in nearby areas, which opens the door to new exploration in the region.
The tasks are in charge of Hunan Mineral Resources Groupwithin the framework of a national prospecting program that seeks to strengthen strategic control of key resources.
Why all the wealth belongs to China
Being a deposit located entirely in Chinese territory and detected by state agencies, all of the gold belongs to the Chinese Statewhich controls the exploitation and commercialization of strategic mineral resources.
This discovery strengthens national gold reserves y consolidates the position of China as one of the main players in the world market. In 2023, the country produced 375.16 metric tons of goldwith year-on-year growth, and domestic consumption exceeded 1,089 tons, driven by demand as a safeguard asset.
In a global context marked by financial volatility, the expansion of the Chinese middle class and the search for refuge from inflation, the Hunan discovery could have long-term economic and geopolitical implicationsboth in the price of gold and in the dynamics of international markets.
