2 weeks Ago By sally
Subscribe Search Search Sort by Relevance Title Date Subscribe ALBAWABA - China has discovered the country's biggest gold reserve that could be worth up to $83 billion. According to Chinese media outlets, Chinese geologists uncovered a massive gold reserve in Hunan Province, which is likely to be worth billions of dollars. Xinhua news revealed that the discovered gold deposit has an estimated reserves of over 1,000 tonnes valued at 600 billion yuan.
China Discovers Massive Gold Reserve in Hunan, just in time to save its economy! Has this discovery been faked to shore up investor confidence? It reminds me when China's Wuhan Kingold Jewelry used at least 83 tonnes of counterfeit gold as collateral to secure $2 billion in loans pic.twitter.com/jl3M7jH8b0 — We Shuggie's View of China (@WeShuggie) November 24, 2024 Xinhua also added Geologists have detected over 40 gold veins, with a reserve of 300 tonnes of gold, within a depth of 2,000 meters beneath the Wangu gold field in Pingjiang County.
Chen Rulin, an ore-prospecting expert with the Hunan Province Geological Disaster Survey and Monitoring Institute under the bureau, revealed: "Many drilled rock cores showed visible gold". Reuters reported citing data from the World Gold Council, that China is considered the world's largest gold producer, with about 10% of global output last year. Sally Shakkour is the leader of the English news team.
She is also a news and breaking news writer with over 6-year experience in publishing content and digital journalism. Sally has a good knowledge of Google's SEO as well. Sally also excels in writing original node stories and monitoring Al Bawaba's social media accounts with her insights and knowledge of current trends and popular issues.
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