China Strikes Gold: World's Largest Deposit Worth ₹6,68,000 Crore Discovered, Set to Reshape Global Markets

China has stunned the world with the discovery of what is now believed to be the largest gold deposit ever found, valued at a staggering ₹6,68,000 crore (approximately $83 billion). The find, located in the Wangu gold field of Hunan province’s Pingjiang County, is poised to shake up global gold markets and cement China’s dominance in the precious metals sector.

 

Key Highlights

Record-Breaking Find: The newly discovered deposit contains an estimated 1,000–1,100 metric tonnes of high-quality gold ore, surpassing South Africa’s South Deep mine, which previously held the record with 930 tonnes.

 

Advanced Technology: Over 40 gold veins were mapped using cutting-edge 3D geological modeling and deep-core drilling, with some veins stretching as deep as 3,000 meters below the surface.

 

Exceptional Quality: Ore samples revealed up to 138 grams of gold per metric ton—far richer than typical commercial mines, which average around 8 grams per ton.

 

Global Impact: The announcement triggered a surge in gold prices to near all-time highs, as investors flocked to gold amid global economic uncertainties.

 

Strategic Significance: China, already the world’s largest gold producer (accounting for about 10% of global output), is set to further strengthen its influence on global gold supply and market dynamics.

 

Multiple Discoveries: This Hunan find follows another major gold discovery in Liaoning province, with both reserves potentially totaling 2,000 tonnes—an unprecedented boost for China’s mineral wealth.

 

Market and Economic Implications

This discovery is expected to:

 

Accelerate China’s mining development and lower extraction costs due to the ore’s high grade.

 

Influence global gold prices and supply chains, with long-term effects on investment strategies and economic policies.

 

Spark further technological innovation in resource exploration and extraction.

 

“This supergiant deposit could be the largest of any precious metal in existence today, and its quality is truly extraordinary,” said Chen Rulin, senior geologist on the project.

 

With the world’s gold map redrawn, all eyes are on China as it prepares to unlock this treasure trove, potentially rewriting the rules of the global gold industry.

 

Sources:

Popular Mechanics, Discovery Alert, NDTV, Times Now, The Brighter Side News, FOX 9, YouTube (Connecting the Dots)