
China hits massive Jackpot, set to become ultra rich, discovers world's largest gold deposit worth Rs 662000000000, gigantic treasure found in…
New Delhi: China has confirmed that it has discovered one of the largest gold deposits in the world in Hunan province. According to the reports, the find includes forty new gold veins that potentially contain up to 1,000 tons of gold. The treasure was discovered near the Wangu gold mine. Experts have valued this treasure at approximately USD 83 billion, based on digital modeling techniques. This find has potentially surpassed South Africa's South Deep mine which currently holds the record with estimated reserves of 930 tons.
It is important to note that the initial drilling operations in the surrounding area have already yielded visible gold particles. The particles are not visible with the naked eye, suggesting that additional significant deposits may exist in the vicinity. This indicates the potential for the Hunan province to become an even more important gold mining hub in the coming years. Here are some of the important details: China currently stands as the world's leading gold producer
The Chinese subsoil has long been known for its mineral wealth, particularly gold resources
This new find exceeds all previous expectations in terms of scale and quality.
The newly identified deposit near the Wangu gold mine represents a significant advancement in China's mining capabilities.
Geological surveys have confirmed the presence of forty distinct gold veins in the area, dramatically expanding the known reserves in the region.
This discovery didn't happen by chance but resulted from systematic exploration using advanced technologies and digital modeling.
According to the reports, the ore contains approximately 138 grams of gold per ton of material
This high concentration will likely translate to reduced extraction and processing costs Mining experts have outlined these factors that will influence the development of this resource: Depth management technologies capable of operating at 3,000 meters
Environmental impact mitigation strategies
Processing facilities equipped to handle the high-grade ore
Transportation infrastructure for the extracted materials
Safety protocols for deep mining operations
The outstanding quality of the ore offers a major advantage for mining operations. With a concentration of 138 grams per ton, this deposit holds gold levels far above the global average. In comparison, most commercially viable gold mines operate with only a few grams per ton.

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Time of India
17 minutes ago
- Time of India
Forget Tesla: 76% of cars sold in this Asian country are electric, and it's not who you think
Nepal electric vehicle boom is turning heads worldwide as the Himalayan nation quietly becomes a global leader in EV adoption. With 76% of all new cars sold now electric, Nepal's smart use of hydroelectric power, affordable Chinese EVs, and strong government incentives have powered this dramatic shift. From slashing fuel imports to building a growing EV charging network, Nepal shows how developing countries can fast-track clean mobility. As EV sales skyrocket, Nepal's story is setting a new standard for sustainable transport. When most people think of electric vehicle (EV) leaders, countries like Norway or China come to mind. But a surprising contender is now turning heads worldwide: Nepal. Yes, the Himalayan nation has quietly pulled ahead in the EV game — with a staggering 76% of all new cars sold now electric . Tired of too many ads? Remove Ads Nepal's EV sales cross 76% mark, outpacing global adoption rates Clean hydroelectric energy makes EVs super affordable to run Tired of too many ads? Remove Ads EV tax breaks give buyers a financial edge over petrol vehicles Chinese EVs dominate Nepal's roads with affordable and feature-rich options Nepal's growing EV charging network powers mass adoption Tired of too many ads? Remove Ads EV sales hit record highs with over 10,000 new units imported in a year National targets set the pace for a fully electric future 25% of all new vehicles to be electric by 2025 (already surpassed) (already surpassed) 90% of private cars and 60% of public vehicles electric by 2030 95% private and 90% public vehicle electrification by 2035 Challenges ahead: Policy changes and rural EV access need attention Electric buses and public transport are the next big focus No EV battery recycling or safety regulations yet in place Nepal's EV journey is a model for developing countries FAQs: Nepal is making headlines as one of the world's fastest-growing electric vehicle (EV) markets. With over 76% of all new passenger vehicle sales now electric, the small Himalayan nation has quietly positioned itself as a leader in EV adoption, outpacing global averages and even beating wealthy countries like Germany and the US. Powered by clean hydroelectric energy, smart policy moves, and affordable imports from Chinese EV giants like BYD, Nepal's story is a blueprint for how developing countries can leap into a clean transport the fiscal year 2024–25, more than three-quarters of all new cars sold in Nepal were electric. That's a staggering figure considering the global average for EV sales sits around 20–25%. Even more impressively,—such as small vans and pickups—sawfrom electric rapid EV adoption is turning Nepal into an unexpected yet powerful player in the electric mobility transition. What's driving this remarkable shift? Let's explore the key reasons behind Nepal's electric vehicle of Nepal's greatest natural assets is its hydropower. The country generates over, meaning it's already set up for a clean energy-powered transport nations reliant on fossil fuels, charging an EV in Nepal is not only environmentally friendly but also 15 times cheaper than refueling with petrol. For everyday Nepalis, this cost-saving is a affordability—paired with Nepal's aggressive import tax incentives—makes electric vehicles not only greener but also the smarter economic policy has played a central role in Nepal's EV success. In a bold move, Nepal introduced reduced import duties on electric vehicles, slashing the tax burden to as low as 40–60%. In contrast, petrol and diesel vehicles still face tax rates between 180–300%.This policy flip has helped make EVs more accessible than ever. In fact, several popular electric models—like the Hyundai Kona Electric or Chinese-made SUVs—are now cheaper than their petrol counterparts in the Nepali to these incentives, EVs are no longer niche or luxury items in Nepal—they are rapidly becoming the default vehicle electric vehicle brands, especially BYD and Neta, have captured an estimated 70–80% of Nepal's EV import market. Their vehicles are praised for being affordable, reliable, and loaded with tech features that match or beat Western models like the BYD Dolphin or Tata Nexon EV (from India) have also become popular choices for city drivers, while premium SUVs like the BYD Atto 3 are rising among families looking for larger and longer-range flood of high-quality but budget-friendly Chinese EVs has been a crucial factor in Nepal's record-breaking EV reason for Nepal's EV boom is the development of its national charging infrastructure. As of mid-2025, the government and private companies have installed over 60 public charging stations, with many more being added across Kathmandu Valley and highway at home is also becoming popular, especially as the cost of residential EV charging is significantly lower than public petrol rural areas still face some access challenges, the growing number of chargers across the country has given drivers confidence that switching to electric won't limit their just the first 10 months of fiscal 2024–25, Nepal imported—a massive jump from previous years. This surge is not just good news for sustainability; it's also great for the importing EVs instead of petrol vehicles, Nepal is saving billions in fuel import costs while also reducing air pollution in congested cities like EVs also mean higher revenue from customs duties, as electric car sales continue to rise and replace fossil-fuel vehicles on the is not stopping at just 76%. The government has outlined bold EV targets in its updated climate action plan (NDC 3.0):These targets align with Nepal's goal of becoming a net-zero country by 2045, and EV transformation is a big piece of that the progress, Nepal's EV revolution isn't without roadblocks. In 2025, the government increased custom and excise duties on EVs, raising costs for buyers and prompting concern among dealers and the same time, changes to financing rules—cutting loan-to-value ratios from 80% to 60%—have made it harder for some buyers to afford new addition, charging infrastructure is still sparse in rural areas, and electric buses and trucks haven't scaled fast enough to clean up public transport or commercial stable policy support and further infrastructure investment, the EV boom could slow in the years private EV ownership has surged, public transportation in Nepal is still catching up. Only a small number of electric buses operate in Kathmandu, mostly through the Sajha Yatayat cooperative, which runs around 40 EV say Nepal needs at least 800 electric buses to make a serious dent in pollution and congestion across major cities. However, limited subsidies and high upfront costs remain public EVs—especially in mass transit—will be essential for making Nepal's EV shift both inclusive and EV journey is happening at an impressive pace, but its ecosystem is still incomplete. There is no national battery recycling system, posing future environmental risks once older EVs safety standards and quality checks for imported EVs also remain weak or inconsistent, raising concerns about long-term durability and Nepal to become a mature EV market, it will need to strengthen after-sales service networks, recycling policies, and technical standards across the its economic challenges and mountainous terrain, Nepal is proving that EV adoption is possible—and scalable—even in developing focusing on clean energy, smart incentives, and affordable imports, Nepal is reducing fuel dependency, slashing emissions, and giving its citizens access to cleaner, cheaper current momentum continues—with stable policies, better infrastructure, and attention to public transit—Nepal could become one of the world's first countries to fully electrify its vehicle fleet by the Nepal offers low EV import taxes, hydro-powered electricity, and affordable Chinese 76% of new cars sold in Nepal are electric in 2025.
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Business Standard
17 minutes ago
- Business Standard
US' 25% tariff to hit iPhone exports, disrupt India's electronics shipments
US President Donald Trump's decision to impose a 25 per cent tariff on all Indian exports from August 1, along with an additional unspecified penalty related to purchases of Russian energy and military equipment, is expected to disrupt Apple's ambitions to expand iPhone manufacturing in India and increase electronics exports to the American market. India currently accounts for about 36 per cent of US smartphone imports, driven in large part by Apple's growing production footprint in the country. Industry analysts, according to a report by the Press Trust of India, warned that while Chinese export controls may pose manufacturing challenges globally, the US tariffs will directly impact outbound shipments from India. 'Today's sudden announcement of 25 per cent tariffs on exports from India to the US will certainly hit Apple's plan of making India a large export hub for iPhones to the US,' said Navkendar Singh, associate vice-president for devices research at IDC India, South Asia & ANZ. Singh noted that the US accounts for about 25 per cent of Apple's global iPhone shipments — roughly 60 million units annually. 'To meet iPhone demand in the US from devices assembled in India requires significant manufacturing expansion here, which will be directly impacted by these new tariffs,' he added.


News18
27 minutes ago
- News18
Tata Motors to acquire Italian truck maker Iveco in Rs 38,240-cr deal
New Delhi, Jul 30 (PTI) Tata Motors on Wednesday said it will acquire Italian commercial vehicle maker Iveco Group, excluding its defence business, for euro 3.8 billion (nearly Rs 38,240 crore) in a deal which is set to be the Indian automaker's biggest buyout. In the automotive space, the company's largest acquisition till date is its buyout of British brand Jaguar Land Rover for USD 2.3 billion in 2008. The executive committee of the company's board has approved the acquisition of 100 per cent common shares of Iveco Group NV, through all cash voluntary tender offer (excluding defence business), subject to all regulatory, statutory and all other necessary approvals, the Mumbai-based auto major said in a regulatory statement. Tata Motors and Iveco group said they have 'reached an agreement to create a commercial vehicles group with the reach, product portfolio and industrial capability to be a global champion in this dynamic sector". The transaction seeks to acquire 271,215,400 common shares, through a voluntary tender offer, which is subject to a minimum acceptance level of 80 per cent of the shares tendered, it added. A cash consideration of euro 14.1 per tendered share is proposed for Iveco Group N.V. (excluding the defence business), the company stated. The offer represents a total consideration of around euro 3.8 billion for Iveco Group, excluding Iveco's defence business and the net proceeds from the defence business separation, it said. Transaction is expected to close by April 2026, subject to all necessary formalities and regulatory clearances, the company stated. Commenting on the transaction, Tata Motors Chairman Natarajan Chandrasekaran said, 'This is a logical next step following the demerger of the Tata Motors Commercial Vehicle business and will allow the combined group to compete on a truly global basis with two strategic home markets in India and Europe." The combined group's complementary businesses and greater reach will enhance Tata Motors' ability to invest boldly, he said, adding, 'I look forward to securing the necessary approvals and concluding the transaction in the coming months". Suzanne Heywood, Chair of Iveco Group, said: 'We are proud to announce this strategically significant combination, which brings together two businesses with a shared vision for sustainable mobility." 'Moreover, the reinforced prospects of the new combination are strongly positive in terms of the security of employment and the industrial footprint of Iveco Group as a whole," she added. Tata Motors' offer would bring together two businesses with highly complementary product portfolios and capabilities and with substantially no overlap in their industrial and geographic footprints, creating a stronger, more diversified entity with a significant global presence and sales of over 5,40,000 units per year. Together, Iveco and the commercial vehicle business of Tata Motors will have combined revenues of around 22 billion euros (over Rs 2,20,000 crore) split across Europe (50 per cent), India (35 per cent) and the Americas (15 per cent) with attractive positions in emerging markets in Asia and Africa, the filing said. 'The combined group will be better positioned to invest in and deliver innovative, sustainable mobility solutions by leveraging both supplier networks to serve customers globally. It will also unlock superior growth opportunities and create significant value for all stakeholders in a dynamic marketplace," it said, adding by preserving each group's industrial footprint and employee communities, this complementarity is also expected to foster a smooth and successful integration process. Tata Motors Executive Director Girish Wagh said the combination is a strategic leap forward in the group's ambition to build a future-ready commercial vehicle ecosystem. 'This partnership not only enhances our ability to serve diverse mobility needs across markets, but also reinforces our commitment to delivering sustainable transport solutions that are aligned with global megatrends," he added. Iveco Group CEO Olof Persson said: 'By joining forces with Tata Motors, we are unlocking new potential to further enhance our industrial capabilities, accelerate innovation in zero-emission transport, and expand our reach in key global markets. 'This combination will allow us to better serve customers with a broader, more advanced product portfolio and deliver long-term value to all stakeholders," he added. Under their agreement, Iveco Group Board recommended Tata Motors' all-cash voluntary tender offer for Iveco Group common shares and the completion of the offer is conditional on the separation of Iveco Group's defence business. As per the regulatory filing, Tata Motors' offer will be made by TML CV Holdings PTE LTD or a new limited liability company to be incorporated under Dutch law, which will be wholly owned, directly or indirectly, by the company. Iveco Group N.V. is a Dutch public limited company incorporated on June 16, 2021, headquartered in Turin, Italy. The Group designs, manufactures, and sells trucks, commercial and defence vehicles, buses, and powertrains and also provides financial services to its dealers and customers. The transaction intends to acquire the non-defence business comprising trucks, buses, powertrains and financial services. Tata Motors' acquisition of Iveco Group is the second biggest acquisition of the Tata Gropu after the USD 12 billion takeover of Anglo-Dutch giant Corus Group Plc in 2007. PTI MSS RKL HVA (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 30, 2025, 23:15 IST News agency-feeds Tata Motors to acquire Italian truck maker Iveco in Rs 38,240-cr deal Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.