The largest gold deposit on Earth has been discovered and is valued at 100 billion dollars

China has discovered a gold deposit in Hunan province that could be worth around $97bn, a find that may significantly expand the country’s influence over the global gold supply chain.

The discovery was made at the Wangu mine, in Pingjiang county, and includes more than 40 separate gold veinsdistributed across the site. Early exploration data suggests the deposit could exceed 1,000 metric tons of gold (about 1,102 US short tons), although this figure has yet to be fully verified.

Initial assessments by Chinese officials highlight the unusually high concentration of gold, placing the site among the highest-grade deposits recorded in recent decades.

Drilling is currently ongoing as part of a national geological initiative, with further sampling and reserve calculations planned in the coming months.

So far, the Hunan Provincial Office has confirmed approximately 300 metric tons of gold (around 331 short tons) at a depth of 6,560 feet (2,000 meters). Estimates indicate the total could surpass 1,000 metric tons, giving the deposit a projected value of roughly $97bn.

138 grams per metric ton of ore

The highest concentrations recorded reach 138 grams of gold per metric ton of ore, compared with commercial mines, which typically operate with grades below 10 grams per metric ton.

Chen Ruolin, a miner cited by the provincial office, said that “many of the drilled rock cores have shown visible gold, which usually indicates high levels of mineralization.”

Gold has also been found in peripheral areas of the site, suggesting the deposit may be far more extensive than current mapping indicates. Exploration is being carried out by the Hunan Mineral Resources Group.

If current estimates are confirmed, the Wangu deposit could surpass the long-standing benchmark set by South Deep in South Africa, whose reserves were estimated at around 900 metric tons of gold (roughly 992 short tons).

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