This country hits jackpot as gold deposit worth Rs 6,678,000,000,000 discovered in…., it is world’s….

Gold, often referred to as the yellow metal, is one of the most expensive and valuable metals in the world. China has made a groundbreaking discovery that could reshape its economic future. A massive gold deposit worth over £63 billion has been found beneath an existing mine. According to Beijing officials, the underground reserve is estimated to contain around 1,100 tonnes of gold, buried as deep as 9,800 feet below the surface, reported NavBharat Times Hindi. Furthermore, the report stated that the experts believe this could be the largest known deposit of any precious metal ever found. In addition, the quality of the yellow metal is expected to be exceptionally high.

Valued at over £63 billion, this find is being hailed as a game-changer not just for China, but potentially for global gold markets as well. According to the current exchange rate (approximately £1 = Rs 106), £63 billion is equivalent to around Rs 6,678,000,000,000 — that is, Rs 6.68 lakh crore in Indian rupees.

A team of Chinese geologists has reportedly discovered over 40 gold veins beneath the Wangu Gold Field in Pingjiang County, Hunan Province, containing around 330 tons of gold ore at a depth of approximately 6,600 feet. Advanced 3D geological modeling indicates that the deposit could stretch as deep as 9,800 feet, potentially holding up to 1,100 tons of gold. If these estimates are accurate, the total value of the reserve could reach an astounding $83 billion.

The discovery contains 138 grams of gold per metric ton of ore, which is extremely rare and indicates very high-quality gold. As per NavBharat Times Hindi, Chen Rulin from the Geological Bureau of Hunan Province stated that this additional gold reserve was found in the drilled rock cores. He added that if the estimate of 1,100 tons holds true, it would become the largest gold mine in the world.

At present, the record for the world’s largest gold mine belongs to the South Deep mine in South Africa, which contains 1,025 tons of gold. Mines in Indonesia, Russia, New Guinea, and Chile are among the top five gold mines globally. The Carlin Trend and Cortez gold mines in Nevada rank sixth and tenth in the world, respectively. If China’s new gold reserve is confirmed, it could give a significant boost to the country’s economy.

So far, the world has seen about 233,000 tons of gold mined in various forms, with two-thirds of it extracted since 1950. China has emerged as a major player in gold mining, and experts believe the country still holds many undiscovered gold deposits, the report mentioned. Today, China leads the global gold market, with its mining industry accounting for roughly 10% of the world’s total gold production.

China currently ranks sixth in the world for gold reserves, with about 2,264 tons of gold. In recent years, the country has been steadily increasing its reserves, and with the recent discovery of new deposits, China’s gold holdings are expected to grow even more soon. At present, the United States holds the largest gold reserve globally. Meanwhile, India stands in ninth place in the world in terms of gold reserves.

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