China reports record breaking 1,000-tonne gold find after $80bn reserve revealed last year
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Chinese geologists have clamined the discovery of a 1,000-tonne gold deposit in Liaoning province, in what may be one of the world's largest known gold finds.
The find, detailed in China Mining Magazine, follows a previous announcement last year of an $80 billion gold reserve discovered in Hunan province. The discoveries are credited to the country's increasingly advanced mineral prospecting technologies.
Gold nugget weighing 6.6kg (14lb) found in a mine on Qilian Mountain in northwest China (XINHUA/AFP via Getty)
Local reports claim the Liaoning site spans more than 3km from east to west and over 2.5km north to south. Officials say the deposit offers high recovery rates and is relatively easy to mine.
China, already the world's top gold producer with nearly 380 tonnes of output in 2024, still lags behind South Africa and Australia in terms of proven reserves. New discoveries could narrow that gap and bolster China's resource security.
The Hunan Geological Bureau, in a separate report from November, said it had uncovered 40 gold-rich veins nearly a mile deep, with a potential yield of 300 tonnes and more expected at greater depths. The total reserve there may also exceed 1,000 tonnes.
The finds come amid a renewed push by Beijing to strengthen strategic resource stocks as gold continues to play a key role in economic stability, electronics, and battery development.
Researchers said recent success stems from combining general and detailed exploration methods. 'At present, all construction drilling holes have found ore,' the exploration team noted.
Despite China's confidence, geologists including those at the World Gold Council have called for independent verification and warned that production could take years. Questions also remain about the quality and economic viability of the deposits.
Still, the discoveries underscore China's growing capabilities in resource exploration and its long-term ambitions in the global gold market.
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