Huge gold deposit discovered in China


Published 20 March 2023 at 15.30

Foreign. China has recently discovered a huge gold deposit of almost 50 tons of the precious metal, which corresponds to approximately SEK 30 billion in current market value.

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The deposit was found in the countryside outside the city of Rushan in east China's Shandong Province, according to the province's Mineral Resources Authority.

The gold deposit “extends over a large area” and the ore is easy to mine, the authority announced.

Shandong Province is rich in gold resources and has had greater production than any other province in China in the past four decades.

– The gold diggers drilled more than 250 holes as deep as 1,400 meters to find the deposit, says Zhou Mingling, deputy director at the authority, to the local newspaper Dazhong Daily, according to CGTN.

A government evaluation shows that the deposit can lead to the production of approximately 2,000 tons of gold ore for at least 20 years.