A significant deposit of high-quality gold ore has been unearthed in central China’s Hunan Province, potentially setting a new benchmark in the global gold mining industry, Science Alert reports.
According to Chinese state media, the discovery, valued at approximately $83 billion, contains an estimated 1,000 metric tons of gold, making it one of the largest gold finds in recorded history.
The Geological Bureau of Hunan Province reported the presence of 40 gold veins within a 1.2-mile depth in Pingjiang County, northeast Hunan. Preliminary exploration indicates that these veins alone contain about 300 metric tons of gold, while 3D modeling suggests the deposit could extend to depths of 3 kilometers. Prospector Chen Rulin confirmed that many drilled rock cores revealed visible gold, underscoring the exceptional quality of the ore.
Each metric ton of ore could contain up to nearly 5 ounces of gold—far exceeding the industry standard for high-grade ore, which is typically defined as containing more than 8 grams per ton.
Geologists from the Hunan Province Geological Disaster Survey and Monitoring Institute have played a crucial role in uncovering this deposit. Advanced drilling techniques and 3D geological modeling were instrumental in assessing the extent and potential yield of the find. Core samples from the Wangu gold field, collected on November 20, 2024, provided critical evidence of the gold’s quality.
China, already the world leader in gold production, is poised to strengthen its dominance with this discovery. In 2024, China’s gold reserves exceeded 2,000 metric tons, contributing roughly 10% of global gold output. News of this latest deposit has already influenced gold prices, which have been on the rise amid ongoing global economic uncertainty.
The find also renews speculation about whether humanity is nearing “peak gold”—a theoretical point when the discovery of economically viable gold deposits slows significantly. However, this discovery suggests that untapped reserves may still exist in previously unexplored regions.
