Posted on 11/19/2025 1:05:15 PM PST by Red Badger
China has hit the jackpot, once again, after discovering one of the largest deposits of gold ever recorded in the country’s history. Off the back of surging gold prices, the discovery could be worth upwards of $192 billion.
China’s Ministry of Natural Resources reported that the Dadonggou deposit in the northeastern province of Liaoning contains about 2.586 million tonnes of gold ore, according to Chinese state media. With an average grade of 0.56 grams per tonne, this totals around 1,444 tonnes of gold. Some media reports have claimed the load could be worth over $192 billion at current prices.
To develop the Dadonggou mine, China National Gold Group, Liaoning Mineral Geology Group, and the Yingkou Municipal Government have joined forces. Between 2024 and 2027, they aim to invest more than 20 billion yuan ($2.82 billion) to build up a multi-pronged industry in Yingkou, covering every stage of the supply chain from exploration and mining to processing, smelting, and manufacturing.
This is just the latest in a long string of gold discoveries in China. In late 2024, Chinese authorities reported the discovery of a “superlarge” deposit of gold in central China's Hunan Province, estimated to be worth around $83 billion.
China’s success is no accident. The large landmass sits across the junctions of multiple tectonic plates, leading to significant geological activity. The activity generates the conditions needed for gold deposits to form, such as hydrothermal systems where gold-bearing fluids concentrate and gather in veins. The East Asian giant is already the world’s biggest producer of gold, just behind Russia and Australia, and it’s investing heavily to continue its domination of the market.
This timing is fortunate, too. Gold prices have steadily climbed over the past decades, with a major surge after 2020, reaching a record high of over $4,000 per ounce in October 2025.
Global demand has risen sharply as well, driven in large part by central banks increasing their gold reserves and by broader economic uncertainty. During times of instability, both institutions and individuals tend to gravitate toward “trusty old gold” as a safe asset.
Of course, it’s even better if you find the gold yourself, rather than buying it from someone else.
"The mine's more than 1,000 tons of reserves will significantly secure national gold strategic reserves. Its fully integrated industrial chain from production to sales will greatly influence the gold industry in China, enhancing its competitiveness in the global market," Wang Yan, a professor at the Chinese Communist Party’s school in Shenyang, told Chinese media.
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After the U.S. finds rare earth materials in Alaska, China has to one up us. Propaganda!!!
> China has hit the jackpot, once again… <
Permit me to offer a slight correction:
China says it has hit the jackpot, once again…
Those ChiComs, they’re a fun bunch. But they just can’t help lying.
A drop in the bucket compared to their economic cluster-****.
CC
0.56 grams per ton is quite low grade. It could only be done with a huge open pit.
China has zero permitting or environmental regulation delays, so in that regard, they are cheaper than the West.
On the other hand, this is the standard PR promotion and financing game miners all over the world play: “look at these massive amounts in the ground! Give me $1 billion to build a mine!”
You’ll hear more stories like this as we head into 2026.
We’ve hit a peak on inflationary pricing and the beneficiaries of the mark up want to continue their runup.
It’s about keeping the status quo economics of the last 50 to 60 years going, against demographics that aren’t going to cooperate.
To simplify.
One older group has the money and assets for the most part, while the younger group is eating high prices for assets and services.
Right now, we’re in the incremental stage of change, but when an economic dam breaks, change happens rather quickly.
This sentence makes no sense:
“...The East Asian giant is already the world’s biggest producer of gold,
just behind Russia and Australia...”
I worked for 3 months at a gold/cooper mine in Indonesia. The site was so remote that they only transported the highest grade ore off of the island.
A geologist told me that the waste piles contained enough gold and copper to make a pretty good mine if it was in the USA.
I suspect China may have a similar problem if the site is remote enough. Such a low grade may not be worth it. For now.
Ain’t worth Nuthin until it is out of the ground and poured into bars. Nuthin...
The difference is that China will be able to mine their gold. The US will be in court for decades fighting among ourselves before we can hope to dig a single shovelful.
This may be nothing more than China “reporting” gold it has in its hands, outside of the previously declared holdings.
Consider anybody that has the wherewithal to discover the world’s oceans, will have found 30,000 metric tons of gold.
2 - 30 TON DUMP TRUCKS.
The run off polution from this site is going to be a huge environmental disaster for centuries. It’s China, they don’t G.A.S.
Bkmk
0.56 grams per ton is quite low grade.
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When prices were 2000@ acre foot .56 grams per ton was uneconomic all over world. But there is a huge amount of gold at 0.56 grams per ton in places like Nevada and in the gold belt north of Perth,AU, that has suddenly become economic to mine. In some places in the AU gold belt there is just square miles of that low grade ore.
The price of gold at this time is about $131 per gram. To make a profit, they have to process the ore at less than $73 per ton.
The cost to extract and process an ore is extremely variable depending on site, rock type, and process used to extract the gold.
Is this deposit economically viable? Too many unknown variables to determine.
Thank you for your information.
It is timely.
I knew back in 2019 that gold sometime in the future was headed for a 70’s ‘70s-style price escalation. But I didn’t know the timing. I’m a great researcher but a terrible investor and trader. Constant buying high and selling low of small caps wiped me out.
Timing is everything.
I put my money in Index funds on the premise that if the USA goes bust, nothing will be safe.
I have a small amount invested in the semi-precious metals of lead, copper, and brass, put together in certain ways.
Cartridges hold intrinsic value in difficult times.
It’s why the USA needs Greenland, Northwest Territory, British Columbia, Yukon. Manitoba, Saskatchewan, and Alberta.!!!!!!!
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