Finance
China detects a thin thread of supergiant gold in a network of hidden veins worth $83 billion
The deposit worth tens of billions of dollars could redefine the landscape of global mining and gold markets.
An extraordinary find in China’s Hunan Province has captured the world’s attention. The deposit could contain up to 1,000 metric tons of high-grade gold, making it the largest known gold deposit on the planet.
The deposit, located at a depth of about 2 kilometers, has been classified as a “supergiant,” a term reserved for gold deposits with resources in the billions of ounces. This classification puts it above historical reserves such as South Africa’s South Deep mine, which until now held the title of the largest deposit at 900 metric tons.
Hidden gold network
The Hunan deposit is notable for its intricate network of 40 gold veins, described by experts as “fine golden threads” that snake through ancient rock formations. Initially estimated to contain about 300 metric tons of gold, three-dimensional studies suggest the riches may extend to greater depths, up to 3 kilometers.
Chen Rulin, a prospector with the Hunan Geological Bureau, confirmed that the drilled samples show visible gold, a rare occurrence in gold mining. Each tonne of ore contains 138 grams of gold, a figure that far exceeds the usual high-grade standards of 8 grams per tonne.
With an estimated value of $83 billion, this discovery could intensify the already growing global demand for gold, driven by economic uncertainty and geopolitical tensions. However, it also poses environmental and technological challenges. Gold mining at these depths requires significant investments and more sustainable practices to minimize its impact on the environment.
The discovery comes at a crucial time. According to experts, accessible deposits are dwindling, and gold is becoming an increasingly difficult resource to extract. So far, it is estimated that humanity has mined 53,000 metric tons of gold, while another 50,000 tons remain hidden underground.
An evolving debate
The Hunan find also revives scientific discussions about the formation of gold. Recent research suggests that seismic activity can concentrate this precious metal in specific veins, challenging traditional theories about its origin. This deposit could become a natural laboratory for better understanding these processes.
Meanwhile, markets and governments are closely watching the development of this news, aware that the discovery of this “supergiant” of gold could mark the beginning of a new era in mining and the world economy.
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