https://www.sciencealert.com/worlds-largest-gold-deposit-found-worth-over-us80-billion World's Largest Gold Deposit Found, Worth Over US$80 Billion Nature29 November 2024 ByMike McRae (bodnarchuk/Getty Images) A deposit of high-quality gold ore containing around 1,000 metric tons (1,100 US tons) of the precious metal has been discovered in central China, according to Chinese state media. Valued at approximately 600 billion yuan or US$83 billion, the discovery could be considered the largest and most lucrative reservoir of gold ever uncovered, surpassing the 900 metric tons estimated to lie within the mother of all gold reserves, South Deep mine in South Africa. The Geological Bureau of Hunan Province announced the detection of 40 gold veins within a depth of 2 kilometers (1.2 miles) in the northeast Hunan county of Pingjiang. These alone were thought to contain 300 metric tons of gold, with 3D modeling suggesting additional reserves may be found to a depth of 3 kilometers. "Many drilled rock cores showed visible gold," says bureau prospector Chen Rulin. Core samples suggest every metric ton of ore could contain as much as 138 grams (nearly 5 ounces) of gold – an extraordinary level of quality considering ore excavated from underground mines is considered high grade if it contains more than 8 grams. This photo taken on 20 November 2024 shows drilled rock samples from the Wangu gold field in Pingjiang County, central China's Hunan Province. (Xinhua/Dai Bin) China already dominates the world's gold market with reserves considered to be in excess of 2,000 tons earlier in 2024, its mining industry contributing around 10 percent of the global output. Announcements of the findings have contributed to a further increase in the already skyrocketing gold price as demands for the resource continue to rise amid global uncertainty. Just how many bonanzas of the valuable ore remain yet to be discovered around the world is unclear, with experts divided on whether we've reached peak gold. Forged in the furnaces of embracing stars long before Earth was formed, our planet's glittering veins are a finite resource that take eons to precipitate into an easily mineable form. Based on these latest findings, we might be far from exhausting economically viable reserves. Core samples taken around the periphery of the Hunan site hint that the deposit may extend even further than initial predictions, making the reservoir beneath its soil a true dragon's haul.
What an idiotic title to the thread. Great that China found some gold but who were strangleholding China? Is @VicBee clickbaiting? On ET? LOL
Grey color gold. It must be super special. You should at least do some photo editing and sprinkle some gold color.
As a communist country, that gold is now government property, and 80B worth of unexpected gold will go a long way to clean up the apparatchiks books.
“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.” ― Sun Tzu, The Art of War 2023 China's trade balance(USD$) Export to Europe $501.2B Import from Europe $281.7B Trade surplus $219.5B Export to US $500.3B Import from US $164.2B Trade surplus $336.1B Source: https://en.wikipedia.org/wiki/List_of_the_largest_trading_partners_of_China Between China and US/Europe, the trade balance is 2:1 in favor of China. But this does mean that China has an upper hand strategically. At some point, Australia's export 40% to China and China used the leverage to Aussie's economic demise. Trump is using tariff as tool of competitive price equalization. The talking of China's surplus production capacity and using it to flood oversea market is a complete nonsense. Those factories were there years ago. It's all about keep jobs locally or moving jobs to China for its allure of tremendous market size. Now that China market is just a mirage, how? Flood the goods in the oversea market?