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China
became the world’s spotlight after claiming to have discovered Asia’s first largest underwater gold reserve.
However, the government has not disclosed the extent of these underwater gold reserves.So, where is China’s newly discovered underwater gold mine?
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The South China Morning Post reported that the gold reserves were discovered off the coast of Laizhou, in Shandong Province.
This discovery increases the total gold reserves in Laizhou to more than 3,900 tons or the equivalent of around 137 million ounces of gold.
That figure covers around 26 percent of China’s total national gold reserves.This discovery also makes Laizhou the region with the largest gold reserves and production in the Bamboo Curtain Country.
Prior to this discovery, the Chinese government announced they had discovered a super-large scale gold reserve with a low grade of 1,444 tons in Liaoning Province.
China’s Ministry of Natural Resources calls it the largest single reserve since the country declared independence.
China has also announced that it has discovered gold reserves of more than 1,000 tons in the Kunlun Mountains, Xinjiang.
With these major discoveries, China’s position as the largest gold ore producer in the world has strengthened.
China’s gold production reaches around 377 tons per year, although in terms of national gold reserves, this country is still behind South Africa and Australia.
(isa/dna)