Geologists in China have identified a massive gold deposit under the Wangu gold field in Hunan province, potentially making it the world’s largest. Initial estimates suggest the “supergiant” find could contain up to 1,100 tons of gold ore, reaching depths of nearly 9,800 feet.
The discovery includes over 40 gold veins with high-quality ore containing 138 grams of gold per metric ton—an exceptional yield. If confirmed, this deposit surpasses South Africa’s South Deep mine, currently the largest. Experts value the find at approximately $83 billion, with further deposits possibly surrounding the site.
As the world’s top gold producer and importer, China relies heavily on gold, consuming triple what it mines annually. This new discovery has already impacted global markets, driving gold prices to $2,700 per ounce.
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