China: We discovered a 1,000-ton gold mine
Chinese geologists claim to have discovered an unprecedented 1,000-ton gold reserve in the northeast of the country. Last year, China also announced the discovery of a gold mine valued at over $80 billion.
The recent discovery in Liaoning Province could help China maintain its competitiveness in producing this precious metal.
However, many experts have expressed doubts about the accuracy of the recent estimates and are skeptical about the quality and extractability of these new reserves.
China has stated that these reserves are easily extractable and have a high gold recovery rate.
Chinese media have reported that the claimed area extends more than 3 kilometers from east to west and over 25 kilometers from north to south.
China Mining Magazine, citing Chinese researchers, reported that advanced technology in mineral exploration has facilitated the discovery of these massive reserves, which are considered among the largest in the world.
Gold helps various countries protect their economies during global financial fluctuations and is also used in the manufacture of batteries and electronics.
Although China is the largest gold producer in the world and is expected to reach an annual production of 380 tons by 2024, its proven gold reserves are still less than those of South Africa and Australia.