Posted on 12/01/2024 3:55:29 AM PST by george76
China is claiming to have unearthed the largest gold deposit in the world — estimated to be worth more than $80 billion.
More than 1,000 tons of gold reserves and ore veins were allegedly discovered by geologists from the Hunan Provincial Geological Institute some 12 miles beneath the surface in China’s Pingjiang County, according to China state media.
The gold find is believed to be a whopping $83 billion.
...
The record-breaking discovery was made within the Wangu goldfield, Xinhua reported.
The Hunan Provincial Geological Institute said the find was “significant in helping safeguard the country’s resource security.”
China is the world’s largest producer of gold, accounting for around 10% of global output in 2023, according to the World Gold Council.
Currently, the South Deep gold mine in Gauteng Province, South Africa, is the largest gold reserve in the world, holding around 930 metric tons of gold.
The Hunan Academy of Geology said workers found more than 40 gold ore veins at Wangu.
(Excerpt) Read more at nypost.com ...
Well they literally lie about everything and so I’m skeptical. It might be a way to control their people as their economy spirals down to nothing. We aren’t melting down- in fact hey, we just found eleventy gabillion yuan. But, if it is true, they would just use it to develop an even deadlier virus this time, and kill billions instead of the millions they killed through the Wuhan bat virus they engineered last time. That Three Gorges dam can’t break fast enough in my opinion
I don’t think they’re lying about this.They’ve been surreptitiously buying up gold for at least a decade.
The Uyghurs will bear the brunt of the upcoming forced labor.
That has to be a typo or something. The deepest drillhole ever was only about 7.6 miles.
12 miles deep is pretty hard to prove. It would be a feat of wonder to even drill that deep for samples. Electronically sensing gold that deep accurately? Highly doubt it. I think it is nothing more than an investors scam. Like selling plots of land on the moon.
I was thinking the same thing. If they claim it is that deep then they have no proof.
Deepest mine in the world is 2.6 miles. 12 Miles? Chinese horse $hit.
Quick! Send the Hoffmans!
I watched a video about miners a while ago and the amount of water they have to drink every shift is crazy. You have to chug gallons to keep from overheating. 12 miles? You would fry. Me no likey these lying chinamen.
👍
12 miles? Uhhhhh ya right. how the hell they gonna mine it!!??
Also NY Post horse manure. The headline says the gold has been “unearthed”, which isn’t true if it’s still in the ground, by definition.
Maybe the Post left out a decimal point, and the deposit’s only 1.2 miles below surface. That’s still well over 6,000 feet, and I’d bet anything that the deposit hasn’t been drilled out to reserve status, or anything close to it.
Gold reserves are very tricky to prove, and a lot of people have been fooled over the years. Quite a few were fooled intentionally (remember Bre-X?), others by optimism. I’m very skeptical of this story.
Might be a sort of reverse pump-and-dump ploy to depress the price of gold in order to buy more of it up.
2000 meters = 1.2 miles
You have a point there. The temperature that deep is supposed to be 700 degrees. It would have to be mined by robots, which is not impossible.
Getting 12 miles down there would be. It wouldn’t be like digging a fence post hole in one’s backyard.
83 b is change when you consider the amount of abundant existent fake money debt that the not democrat by name and the democrats have thrust into the economy in the past 4 years
83 billion? If it were 83 trillion or in bitcoin I might say wow, but 83 billion dollars worth, that’s cool maybe finance a couple of ghost cities
Or a few more spy baroons!
Depth
“Workers detected more than 40 gold veins, which contained around 330 tons (300 metric tons) of gold down to a depth of 6,600 feet (2,000 meters). However, using 3D computer models, mining experts have predicted that there could be up to 1,100 tons (1,000 metric tons) of gold — roughly eight times heavier than the Statute of Liberty — hidden at depths of up to 9,800 feet (3,000 m).”
https://www.livescience.com/planet-earth/geology/supergiant-gold-deposit-discovered-in-china-is-one-of-the-largest-on-earth-and-is-worth-more-than-usd80-billion
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