Photo: pxhere
Geologists in China have discovered a “super-giant” gold deposit in Hunan province that could be the largest gold mine in the world, surpassing South Deep in South Africa, which contains around 1,025 tonnes of gold. Preliminary estimates suggest the new deposit may hold up to 1,100 tonnes of gold, making it potentially the largest known deposit of any precious metal.
According to Chinese media, a team of geologists identified more than 40 gold veins with reserves of roughly 330 tonnes, located about 2,000 meters below the Wanggu gold field in Pingjiang County. However, 3D modeling suggests that at a depth of 2,900 meters, the deposit could contain up to 1,100 tonnes of gold. If accurate, the total value of the deposit could reach approximately $83 billion. The discovery is further strengthened by a reported gold concentration of 138 grams per tonne — an unusually high figure in gold mining. Chen Zhulin, an expert at Hunan’s Bureau of Mineral Exploration, said:
"Many drilled rock cores have shown visible gold."
If confirmed, this deposit would surpass South Deep as the world’s largest gold mine. Other leading gold mines globally include sites in Indonesia, Russia, Papua New Guinea, and Chile, with the Carlin Trend and Cortez mines in Nevada ranking sixth and tenth, respectively. Historically, 233,000 tonnes of gold have been mined worldwide, with two-thirds extracted since 1950.
China, already the world’s largest gold producer, accounts for roughly 10% of global output but consumes about three times more gold than it produces annually, making it the world’s top importer. The new discovery has triggered global market interest, causing a significant increase in gold prices. Liu Yongjun, deputy head of the Hunan Bureau, noted that additional gold ore deposits were found during peripheral drilling.
Global context: Recently, Argentina unveiled its largest gold, silver, and copper deposit in three decades, located in San Juan province and valued at around $337 billion. This monumental find offers new economic opportunities and challenges for the country.
