New Delhi: China has recently made a discovery in its Hunan province. This discovery is likely to have a huge impact on gold production and markets. Geologists have discovered huge deposits of gold in the Wangu area of Pingjiang County in Hunan province of China. This discovery of gold was made at a depth of more than 2,000 meters, more than 40 gold tunnels have been found here. Let us tell you that in the initial discovery, 300.2 tonnes of gold has been estimated. The maximum amount of gold in this area is up to 138 grams per ton. Experts believe that the gold reserves at a depth of more than 3,000 meters are estimated to reach 1,000 tonnes. Its total value could be $82.8 billion (about Rs 69,306 billion). China's gold reserves have touched the figure of 2,264.32 tonnes by the second quarter of 2024.
China's contribution
China is the world's largest gold producer. According to the World Gold Council, China's contribution to global gold production in 2023 was about 10%. With this new discovery this figure may increase even further. This will further strengthen China's dominance in gold production.
China's advanced technology
The discovery of the Wanghu site reflects China's advanced geology and mining techniques. The discovery of gold at such a depth not only reflects technological advancement but also presents a new challenge for geologists. This discovery can create a challenging environment for the big gold producing countries in the world like America, Russia and Australia. This step of China will further strengthen it as an economic power. Also read: Jaguar's logo changed, Elon Musk asked such a question that it felt like an invitation to discuss over tea.
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