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| African Mansa Musa would laugh in his soup at calling China gold rich. Uganda's where it's at. |
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| Gold nuggets, metallic mineral from the earth (Bodnarchuk/Getty Images/Nature) |
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| Now, along with our partner, Putin's Russia, we will divide the world in three: CH, RU, US. |
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World's largest gold deposit found, worth over US $80 billion
(Nature) A deposit of high-quality gold ore containing around 1,000 metric tons (1,100 US tons) of the precious metal has been discovered in central China, according to Chinese state media.
Valued at approximately 600 billion yuan or U.S. 83 billion dollars, the discovery could be considered the largest and most lucrative reservoir of gold ever uncovered, surpassing the 900 metric tons estimated to lie within the mother of all gold reserves, South Deep mine in South Africa.
- What kind of story suppression is this? A mere $83 billion worth of gold? There was WAY more gold or found in Uganda in 2022: 31 million tonnes of ore -- with an estimated 320,000 tonnes of extractable pure gold:
- If one troy ounce is worth $2,700.00 then 320,000 tonnes, according to my handheld calculator, would today be worth $[ERROR], a number so high we have to hire a mathematician to calculate it.
- How many ounces in a ton of gold? The answer is a metric tonne, which is 32,150.7 troy ounces. So multiply that by $2,7000, and then do it 319,000 more times. It equals: $86,806,890 + $27,691,397,910,000 = That, in our innumerate opinion, equals about 27 to 28 trillion dollars, yes? Or $27,778,204,800,000 to be exact. So what in the world is a mere $83 billion (from 1,100 metric tons) in China? It's not a fraction worth mentioning, except that China is good to go at extracting right now. By our calculation, 1,000 metric tons would be worth $86,806,890,000 (=1,000 x 32,150.7 x $2,700).
- Uganda's discovery of '31 million tonnes of gold ore' and what it could mean for [the manipulated] world gold market
- Uganda is over the moon after discovery of HUGE gold deposits
- Mining industry of the Republic of Uganda, Africa
- Largest gold deposit in the world worth $83 billion found in China (Fox News)
- South African Gold Rush: A Journey Through Top 10 Largest Mines
- VIDEO: China claims to have unearthed the largest gold deposit in the world -- worth $83B+
- Costco gold bars selling out quickly as bullion prices rise: survey | Fox Business
- China is officially communist atheist. How? By not counting its 1 billion+ Buddhists.
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| Chinese technicians survey the gold (Xinhua) |
The Geological Bureau of Hunan Province announced the detection of 40 gold veins within a depth of 1.2 miles (2 kms) in the northeast Hunan county of Pingjiang.
These alone were thought to contain 300 metric tons of gold, with 3D modeling suggesting additional reserves may be found to a depth of 3 kms.
The massive find was made in Pingjiang County, well within undisputed Chinese territory. "Many drilled rock cores showed visible gold," says bureau prospector Chen Rulin.
Core samples suggest every metric ton of ore could contain as much as 138 grams (nearly 5 ounces) of gold – an extraordinary level of quality considering ore excavated from underground mines is considered high grade if it contains more than 8 grams.
China already dominates the world's gold market with reserves considered to be in excess of 2,000 tons earlier in 2024, its mining industry contributing around 10 percent of the global output.
- Mike McRae, ScienceAlert.com/Nature, Nov. 29, 2024; Eds., Wisdom Quarterly
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