At the end of 2024 a surprising discovery was announced: a huge gold deposit was found in China. This finding caught everybody’s attention because it could be one of the biggest and most valuable discoveries in history. However, getting to completely understand the process of this gold deposit might be difficult, so let’s explain it very clearly.
A ‘’supergiant’’ gold deposit
In the middle of China experts found such a huge gold deposit that they even described it as ‘’supergiant’’. It is estimated that it contains about 1,000 metric tons of gold, this equals to more than 1,100 U.S. tons.
This gold could be worth around $83 billion, which makes it one of the most valuable deposits ever found. It could even be larger than the famous South Deep mine in South Africa, which contains about 900 tons of gold.
While some experts are still cautious about confirming its size, if verified, it would be a major find for China.
Where is the deposit?
The discovery took place in Hunan Province, in Pingjiang County. Geologists identified 40 gold veins — lines of rock rich in gold — at a depth of 2 kilometers (1.2 miles). These veins alone could contain 300 metric tons of gold, but 3D modeling suggests there may be more gold down to 3 kilometers deep.
Chen Rulin, a geologist involved in the project, explained that in many rock samples the gold was visible, which is very rare and shows the quality of the deposit.
Quality and importance of the gold deposit
The rock samples showed the exceptional quality of the gold. There could be up to 138 grams of gold in every ton of rock, this is very significant having in mind that a deposit is considered of ‘’high quality’’ if it has 8 grams per ton.
China was already a country with the most amount of gold in the world in 2024, with more than 2,000 tons in its reserves. What’s more, it produces about 10% of global gold and this finding could reinforce even more its position in the gold market.
When the news was announced, the price of gold increased even more since the demand increases in moments of global economic uncertainty, because people see this metal as a safe investment.
Are we running out of gold?
Experts don’t reach an agreement on this matter. Some of them believe we are reaching a point where there’s not much gold that’s easy to find. However, this discovery shows that there could be large hidden deposits.
Also, the samples taken around the area indicate that the deposit could be larger than expected. This is why it’s compared to a ‘’dragon’s treasure’’ hidden underground.
A year full of gold discoveries
2024 was a very important year for gold, because of three significant things:
- A massive nugget found in England: A treasure hunter discovered what could be the largest gold nugget ever found in the country.
- Earthquakes may help form gold in Australia: Scientists found that earthquakes may contribute to the formation of large gold nuggets underground, providing new insights into how gold deposits develop.
- Creation of ‘’Goldene’’: In April 2024, researchers created a new type of gold called “goldene”, which is only one atom thick. This ultrathin gold has unique properties that are different from regular three-dimensional gold.
So…
Whether you are fascinated by science, history, or the global economy, this find shows that gold remains one of the most captivating and valuable resources on Earth. Who knows what other secrets the ground beneath us still holds? One thing is certain: the story of gold is far from finished.