Islamabad, Dec 3: A monumental gold deposit containing around 1,000 metric tons of gold has been unearthed in central China’s Pingjiang County, Hunan Province. Estimated to be worth 600 billion yuan (USD 83 billion), the deposit is among the most valuable ever discovered, surpassing South Africa’s South Deep mine, which holds 900 metric tons.
Details of the Discovery
The Hunan Province Geological Bureau identified 40 gold veins within a 2-kilometer depth, housing 300 metric tons of gold. Further exploration suggests reserves could extend up to 3 kilometers. Core samples revealed visible gold and an exceptionally high grade of 138 grams per ton, compared to the typical high-grade threshold of 8 grams per ton.
Global Context and Impact
China, already leading in the global gold market with over 2,000 metric tons of reserves, contributes 10% of global production. This discovery comes amid rising gold prices fueled by economic uncertainty. While debate surrounds the concept of “peak gold,” this finding highlights untapped reserves’ potential.
Significance in Gold Exploration
2024 has been a breakthrough year for gold discoveries worldwide, from massive nuggets in England to studies linking seismic activity to gold formation. Research also unveiled a two-dimensional gold structure with unique properties, showcasing science’s evolving role in gold utilization.
This latest find underscores gold’s enduring allure and scientific mysteries, cementing its importance in both economic and technological spheres.
