China Is Richer After Finding Giant Gold Mining Reserves

JAKARTA - China could be richer after the discovery of a location with a giant gold reserve in Hunan Province. The gold reserves are estimated at more than 1,000 tons.

Geologists managed to identify more than 40 gold veines with a total reserve of about 300 tons at depths of up to 2,000 meters in Wangu's gold field, Pingjiang area.

According to a report by the Geological Bureau of Hunan, the potential for gold reserves at this location reaches a depth of up to 3,000 meters and can exceed a total of 1,000 tons, with an economic value of around 600 billion yuan or equivalent to US$ 83 billion or Rp. 1,323 trillion.

"Many cores of rock from drilling show gold content," said exploration expert at the Geological Research and Monitoring Institute, Hunan Chen Rulin.

He added, at a depth of about 2,000 meters, 1 tonne of ore can contain up to 138 grams of gold.

Deputy Head of the Geological Bureau, Hunan Liu Yongjun, explained that the latest technology, such as the three-dimensional geological modeling (3D), has been implemented in exploration in Wangu's gold field.

In addition, drilling in the area around the site also found indications of China's giant gold reserve mine, which gave great hope for further development, he concluded.