According to SCMP , scientists say they have discovered two gold deposits with record reserves of up to 1,000 tons in central and northeastern China. If proven, this would be one of the largest in the world, possibly even surpassing the largest known gold deposit in South Africa.
The Hunan Provincial Geological Survey announced the discovery of a massive gold mine in central China, with estimated reserves of over 1,000 tons of gold, potentially worth more than 600 billion yuan (US$83 billion).
A member of the geological bureau told Chinese state media that they discovered the gold deposit thanks to new exploration technologies, such as 3D geological monitoring.
At the same time, another gold mine was discovered in Liaoning province, northeastern China, thanks to new gold prospecting strategies.
Information about a massive gold mine in Liaoning has appeared in the China Mining Journal. The report describes the mine as being over 3,000 meters wide and more than 2,500 meters deep, located in the North China Craton region – one of the oldest stable parts of the Earth’s crust in the world .
Gold prospecting activities began in this area in the 1980s. Although some metals were found, the scale and industrial value remained limited.
A 2009 report indicated that exploration by a local geological team had uncovered an area with more gold than expected, prompting geologists to adjust their exploration strategy.
“In the new exploration phase in 2024, a combined exploration method was applied. Currently, all construction boreholes have found ore,” the research team wrote.
This gold mine is low-grade gold, meaning the amount of gold per ton of material extracted is low. However, the research team said preliminary experiments indicate a gold recovery rate of 65-91%, making it an “easy to mine” gold mine with great economic potential.
“Significant progress has been made in mining exploration and research. More than 430 tons of gold reserves have been found in Liaoning in recent years,” the research team added.
An expert from the World Gold Council said estimates of reserves in Hunan “sound ambitious,” according to the mining trade magazine The Northern Miner.
The South Deep gold mine in northeastern South Africa remains the largest gold mine by proven reserves, with nearly 1,000 tonnes. Further exploration is needed to determine whether Chinese mines will surpass it.
China is the world’s largest producer of gold ore, with a production of 377 tonnes in 2024, according to the China Gold Association. Despite its leading position in gold production, the country cannot match South Africa, Australia, and Russia in terms of proven gold reserves.
Despite skepticism from some experts regarding reserves, the discovery of two large gold deposits could help China maintain its gold production rate and prevent a decline in output.