A monumental gold discovery in central China’s Wangu goldfield, Pingjiang County, has the potential to significantly boost the nation’s gold reserves and impact global supply. Geologists from the Hunan Geological Bureau have identified over 40 gold veins with reserves of 300 tonnes at a depth of 2,000 meters (6,500 feet). Projections extend to a depth of 3,000 meters (9,800 feet), estimating the total reserves at over 1,000 tonnes, valued at approximately 600 billion yuan ($83 billion).
Visible gold has been found in rock cores, with samples yielding up to 138 grams of gold per tonne of ore. Advanced prospecting technologies, including 3D geological modeling, have played a critical role in identifying these reserves, with further exploration around the site indicating promising prospects.
China, already the world leader in gold production, mined 403 tonnes in 2022, accounting for 10% of global output. The Wangu goldfield’s discovery reinforces China’s resource security and underscores its prominence in the mining sector. Despite its production capabilities, China’s gold consumption exceeds domestic supply, driving imports from Australia and South Africa.
The find comes amid rising global gold prices and geopolitical tensions. Its unique properties, including excellent electrical conductivity and corrosion resistance, make it essential in electronics, aerospace, and medical technologies, securing its role in driving future innovations.
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