A massive gold mine has been discovered in Nhai Tự Town, located in the city of Nhu Son, Shandong Province, China, with reserves reaching up to 50 tons, sufficient for mining over the next 20 years.
This is the largest gold mine discovered in China since the beginning of 2023. (Illustrative image).
According to Xinhua, on March 18, the Shandong Geological and Mineral Resources Development Bureau announced the discovery of a large-scale gold mine in Xi Lao Kou Village, with identified reserves of over 50 tons, valued at approximately 20 billion yuan.
This is the largest known gold mine in the region and the biggest gold discovery in China so far in 2023. According to the provincial mineral resource management agency, the exploration process lasted 8 years, involving more than 250 drill holes, with the controlled depth of the mine being nearly 1,200 meters and a maximum depth of over 1,400 meters.
The assessment indicates that the mine has excellent development prospects, based on a production scale of 2,000 tons of ore per day, which could extend the mine’s lifespan to 20 years.
Local government officials stated that this is a significant discovery that will help improve the living standards of the people.
However, many people express concerns about the potential for over-extraction leading to pollution, environmental degradation, and destruction of the surrounding natural landscape.
Despite the controversies, this discovery remains a landmark event for China. Experts believe that with a reserve of 50 tons, China can enhance its gold reserves, especially in the context of global economic risks and downturn trends.
