Official announcements from the People's Bank of China or relevant Chinese government agencies

China Discovers $83 Billion, 1,000-Tonne Gold Deposit in Hunan Province

Nov 21, 2024, 12:30 PM

A superlarge gold deposit with estimated reserves of more than 1,000 tonnes, valued at approximately 600 billion yuan ($83 billion), has been discovered in central China's Hunan Province. The Geological Bureau of Hunan Province announced the find on Thursday, noting that the gold reserves are located at a depth of over 3,000 meters. This discovery marks one of the largest gold deposits found in the region, potentially boosting China's gold reserves significantly.