It is in Pingjiang County, in the northeast of Hunan Province, that this extraordinary deposit was detected. According to initial analyses, the site contains extraordinary concentrations of ore, reaching 138 grams of gold per tonne. For comparison, a concentration of 8 grams per tonne is already considered high quality in the mining industry.
The Hunan Geological Bureau identified 40 gold veins extending up to 2 kilometers deep. These veins alone would contain 300 tonnes d’orand three-dimensional modeling suggests that the deposit could reach 3 kilometers underground. Analyzes of the rocks taken show such richness that gold is visible to the naked eye on certain drill cores, an extremely rare characteristic in this sector.
An immediate impact on global markets
The announcement of this discovery had significant repercussions on the financial markets, causing a new surge in gold price. This metal, prized for its safe haven in times of economic uncertainty, has seen its price rise for several months. This major announcement could also redefine global estimates of exploitable reserves and challenge the “peak gold” theory, according to which mineral resources will soon reach a point of irreversible decline.
China, already the world leader in gold production and reserves, is thus consolidating its dominant position. With more than 2,000 tonnes of gold reserves recorded at the start of 2024 and a production representing approximately 10 % of the world total, the country gains an additional strategic asset.
A technological advance at the service of operations
This discovery would not have been possible without the advanced technologies used by Chinese geologists. Three-dimensional modeling techniques have enabled precise mapping of gold-bearing veins, while additional surveys around the main site suggest reserves could exceed initial predictions.
According to Chen Rulin, prospector in charge of the study, “the infrastructures necessary for exploitation are already in place”, making it possible to envisage a rapid start of mining operations. Furthermore, the Chinese government could take advantage of this discovery to increase its influence on the global gold market.
A discovery with geopolitical implications
China is thus strengthening its leading role in the precious metals market. This increased dominance risks increasing the dependence of other nations on Chinese gold exports, while consolidating the country’s ability to manipulate world prices. This strategy is part of a broader policy aimed at securing strategic natural resources.
As the global mining industry questions the future of gold reserves, this spectacular find demonstrates that new deposits can still be discovered. This gold deposit in Hunan is already establishing itself as a major turning point in the sector, confirming that China is ready to play a central role in the geopolitics of raw materials.
With such potential, the Chinese deposit could permanently modify the economic and strategic dynamics around gold, while consolidating Beijing’s supremacy in this crucial area.
