China found Asia's largest offshore gold deposit

Beijing (94 news) China has announced the discovery of gold deposits in the sea, which is being described as the largest undersea gold deposit in Asia so far. This important discovery was made in the sea near Laizhou, a coastal area of ​​Yantai City in East China's Shandong Province.

According to the details, Laizhou's proven gold reserves after this discovery 3,900 tonnes, which accounts for nearly all of China's total gold reserves 26 Percentages are made. At the same time, Laizhou has become the leader in China, both in terms of gold reserves and production. However, the authorities did not reveal the exact amount of gold reserves discovered under the sea.

According to the South China Morning Post, the discovery comes at a time when China is ramping up exploration for the precious metal across the country, and a string of large gold deposits discovered in recent months has strengthened the impression that China's actual gold reserves may be much higher than previously estimated.

Last month, China announced the discovery of its first super-large but low-grade gold deposit in the northeastern province of Liaoning, with confirmed reserves. 1,444.49 There are tons. According to the Ministry of Natural Resources 1949 It is the largest single gold deposit discovered since the founding of the People's Republic of China.

Similarly, in November, a gold deposit was discovered in the Kunlun mountain range near Xinjiang's western border region, with estimated reserves of 1,000 There are more than tons.

November 2023 Shandong Province claimed nearly a quarter of China's gold reserves, including those on the Jiaodong Peninsula. 3,500 More than tons of deposits are included. This region is considered to be the third largest gold mining belt in the world, and Laizhou is also located in the same region.

China is currently the largest gold mining country in the world. Gold production in China last year, according to the China Gold Association 377 Tons remained. However, in terms of proven reserves, China still lags behind countries like South Africa, Australia and Russia.

China last year 115.99 billion yuan (About 16.47 billion US dollars) Expenditure only on geological exploration. According to the Ministry of Natural Resources 2021 Total expenditure on mineral exploration since the beginning of the current five-year plan, which began in 450 have reached close to a billion yuan, as a result of which 150 Mineral deposits were discovered.

All these discoveries are coming at a time when gold prices in the global market are continuously rising. Instability in currencies, geopolitical tensions and aggressive buying of gold by central banks, especially in emerging economies, have pushed up prices. Gold prices in the global market on Friday afternoon 4,338.3 dollar per ounce.