China/Gold: the Chinese government hits the jackpot with the discovery of more than 52 thousand billion FCFA of reserves in…

China has just discovered one of the largest gold mines in the world, worth 83 billion dollars or more than 52 thousand billion FCFA.

This large gold deposit with estimated reserves of more than 1,000 tonnes was discovered at a depth of 3,000 meters in the central Hunan province of China.

China is already the world’s largest gold producer and accounted for 10% of global production in 2023.

China is not yet completely self-sufficient in the use of gold.

Since the start of the year, China has used around 741 tonnes of gold. However, China only produced 268 tonnes of gold, meaning it is still reliant on imports.

Thanks to this gold mine, China may soon be able to be completely self-sufficient in gold, meaning it will be difficult for the West to harm China economically.

What are other countries saying?

No other country has yet commented on this, although it is likely that the United States will have something to say.

However, reports indicate that this gold reserve is so large that it could significantly impact the price of gold around the world.