<h4>Largest Gold Deposit Worth Over $80 Billion Discovered</h4>
<p> ;</p>
<p><strong><a href="https://openlife.ng/">OpenLife Nigeria</a></strong> has gathered that the world&#8217;s largest gold deposit has been discovered in China&#8217;s central Hunan province.</p>
<p>Geologists believe it could hold 1,000 tonnes of the precious metal.<br />
At current prices this &#8216;supergiant gold deposit&#8217; could be worth more than $80 billion (£63bn), making it the richest source of gold on the planet.</p>
<p>Scientists from the Geological Bureau of Hunan Province (GBHP) say they have discovered more than 40 veins beneath the Wangu gold field in Pingjiang County.</p>
<p>Drilling shows there are already more than 300 tonnes of gold just in the veins less than 2,000m (6,500ft) deep.<br />
However, further 3D modelling suggests there are veins holding an additional 700 tonnes extending down to a depth of 3,000m (9,800ft).</p>
<p>Rock samples taken at the site show that every tonne of ore could contain as much as 138 grams of pure gold.<br />
This would be a truly astonishing level of richness considering that ore is considered high quality if it contains just eight grams per tonne.</p>
<p>Chen Rulin, an ore-prospecting expert at <a href="https://www.vanguardngr.com/">GBHP</a>, told state media: &#8216;Many drilled rock cores showed visible gold.&#8217;</p>
<p>The discovery surpasses even the 900 tonnes buried within the 3,000m-deep (6,500ft) South Deep mine in South Africa which was previously the world&#8217;s largest reserve.</p>
<p>Chinese officials have not yet announced plans to develop the site but it is likely that the Wangu gold field will soon become one of the country&#8217;s biggest mining projects.</p>
<p>Currently, the country&#8217;s biggest gold mine is the Xiling gold mine in Shandong Province, a coastal region in the East of China.</p>
<p>But even that mine, with its massive deposit of 580 tonnes, would only be almost half the size of any mine built over the Wangu gold field.<br />
Gold prices lept at the news of the discovery, rising to near-historic highs in the days following.</p>
<p>Amid rising geopolitical tensions and mounting uncertainties, the price of gold has already been climbing over the course of 2024.<br />
But as the news of the Wangu gold field broke the price of gold briefly jumped to £2,171 ($2,759) last weekend.</p>
<p>China is already one of the world&#8217;s largest producers of gold, accounting for 10 per cent of the global output.<br />
Earlier this year, estimates already put the country&#8217;s total gold reserves at over 2,000 tonnes.<br />
However, China is also a huge market for gold and currently consumes more of the precious metal than it can produce.</p>
<p>Years of rapid economic development and a fast-growing middle class have fueled demand for gold as a form of investment for many Chinese citizens.</p>
<p><em><strong>Source: Daily Mail</strong></em></p>
<p> ;</p>

"Allow Me To Move On”-Yinka Theisen To Linc Edochie OpenLife reports that Yinka Theisen…
Brazilian Model Bianca Passes Away After Cosmetic Surgery OpenLife reports that Brazil was left reeling…
From BBNaija To Pulpit: Soma Sparks Buzz Preaching The Gospel OpenLife reports that…
“Being Fat Isn’t The Problem” – Eniola Badmus Empowers Plus-Size Women OpenLife reports that Nollywood…
Live Drama: Evan Okoro Tests Negative, Calls Out Ekene Umenwa Over HIV Rumours OpenLife…
MC Fish’s Girlfriend Breaks Silence: “I Didn’t End His Marriage” OpenLife Nigeria reports that Nollywood…
This website uses cookies.