Kuber's treasure falls into the hands of China, geologists discover 300.2 ton gold reserves

Beijing: A large deposit of gold has been discovered in Hunan province of China. The discovery is expected to have a major impact on global gold production and markets. It is being told that geologists have discovered a large deposit of gold in Wangu area of ​​Pingjiang County of Hunan province of China. This discovery was made at a depth of more than 2,000 meters from the ground. More than 40 gold tunnels have been revealed during the exploration.

The gold found in the initial discovery is estimated to be around 300.2 tonnes. The highest gold content in this area is up to 138 grams per tonne. It is being told that this gold deposit can be up to 3,000 meters deep. Know what impact this discovery will have on global gold production.

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According to experts, the gold reserves at a depth of more than 3,000 meters can be up to 1,000 tonnes. The total value of this treasure is estimated to be 82.8 billion dollars i.e. approximately Rs 69,306 crore. Now in the second quarter of 2024, China's gold reserves have reached 2,264.32 tonnes. This figure is 314 tonnes more than in November 2022.

China's contribution to global gold production

China is the world's largest gold producer. According to the World Gold Council, China's share in global gold production in 2023 was about 10%. Now with this new discovery this number may increase further, which will further strengthen China's dominance in gold production.

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China's advanced geology

The discovery of the Wangu site reflects China's advanced geology and mining techniques. Finding gold at such a depth not only represents technological progress but also a new challenge for geologists. After this discovery, an environment of competition may be created for the world's major gold producing countries like America, Russia and Australia. This step of China can further strengthen it as a geo-economic power.

What to expect from the Wangu site?

The discovery of the Wanghu site will not only increase China's gold reserves but also boost local economic activity. Due to this, there is a possibility of growth in mining, employment and investment sectors. Gold mining can have an impact on the environment. China should take care that the mining process does not disturb the environmental balance.