China Discovers 168 Tons of Gold Reserves.
China has once again struck gold, literally, with the discovery of significant reserves in multiple provinces. The Ministry of Natural Resources confirmed that geological surveys uncovered gold deposits in Gansu, Inner Mongolia, and Heilongjiang provinces.
Gansu Province Holds Largest Gold Reserve
Gansu province emerged as the standout location, with a staggering 102.4 tons of gold, classified as a super-large deposit. The total newly discovered gold resources across these regions amount to 168 tons, significantly boosting China’s already dominant gold reserves.
Hunan Province Holds World’s Largest Gold Reserve
In November last year, China discovered the world’s largest gold reserve near Pingjiang County, Hunan province. This reserve, containing 1,000 metric tons of high-quality gold, is valued at over $83 billion (approximately ₹7 lakh crore).
China Maintains Its Status as Top Gold Producer
China continues to lead the global gold production, accounting for 10% of global output in 2023. With 2,264 tons of gold reserves, China ranks sixth globally in terms of gold holdings, according to the World Gold Council.
Economic Benefits of Gold Reserves for China
Large gold reserves bolster a country’s economy by supporting currency value and acting as a reliable asset. These new discoveries are expected to further strengthen China’s financial stability and economic influence.
Pakistan Also Discovers Significant Gold Reserves
China’s neighbor, Pakistan, has also reported a major gold discovery in Attock district, Punjab province. Valued at approximately 800 billion Pakistani rupees, this reserve holds 28 lakh tolas of gold, potentially transforming Pakistan’s struggling economy.
Comparison with South Africa’s South Deep Mine
China’s Hunan gold reserve surpasses the 900 metric tons found in South Africa’s South Deep mine, highlighting China’s growing dominance in gold resources.
Conclusion: Gold Reserves Boost Economic Power
China’s newly discovered gold reserves reaffirm its position as a global leader in gold production. These reserves will not only strengthen China’s economy but also enhance its geopolitical influence. Meanwhile, Pakistan’s discovery offers hope for its economic revival.
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