Two newly discovered gold deposits in China, located in Hunan and Liaoning provinces, could contain over 2,000 metric tons of the precious metal – making this the largest gold find ever recorded within the country. If confirmed through further surveys, these deposits represent a potential value exceeding $80 billion, with the Wangu deposit alone estimated at $83 billion.
Scale of the Discovery
The Wangu deposit in Hunan province and the Dadonggou deposit in Liaoning province represent a significant increase in China’s known gold reserves. The Wangu deposit alone is reported to contain over 600 billion yuan worth of gold. The Dadonggou deposit may even exceed that, with estimates suggesting a potential resource of up to 1,500 tons.
This discovery is significant because China is already one of the world’s largest gold producers. Increased domestic reserves could strengthen its position in global markets.
Geological Context and Extraction Feasibility
The Dadonggou deposit is particularly interesting due to its location along the Tan-Lu Fault, a major tectonic boundary. This fault line has created conditions favorable for gold deposition, suggesting that similar deposits may be overlooked in other regions due to unexpected geological characteristics.
The gold grade in Dadonggou is relatively low (0.3 to 1 part per million), but researchers claim it is highly extractable, with a recovery rate of 65-91%. The deposit’s value may not just lie in its current reserves, but in its potential to identify other similar deposits.
Caveats and Future Reports
These estimates come with the usual caveats: they depend on full extraction and stable gold prices. The valuation assumes 100% recovery, a rare scenario in real-world mining.
No scientific papers have been published yet, but exploration reports are likely underway. The reported reserves of 300 tons down to 2,000 meters (and over 1,000 tons down to 3,000 meters) are based on initial surveys, and more detailed assessments are needed.
Global Gold Landscape
While these deposits are significant, other large reserves exist globally. The Kerr-Sulphurets-Mitchell deposit in Canada (4,790 tons) and the Pebble deposit in the US (3,310 tons) remain substantial. However, the discovery suggests that peak gold may already be behind us.
Recent studies indicate that rich gold deposits may be more common than previously thought, challenging conventional geological wisdom. Ongoing research explores medical applications for gold nanoparticles, as well as unique properties in new forms of gold, like single-atom-thick “goldene.”
The long-term implications of these discoveries remain provisional, pending further data and detailed reports. The exact extent of these newly confirmed gold reserves will become clearer as exploration continues.
