China Discovers Massive Underwater Gold Deposits

Significant Boost to National Gold Reserves

China has successfully identified its first underwater gold deposit, located off the coast of Laizhou in Yantai, Shandong Province ¹

²

Source 2

https://internasional.kontan.co.id/news/harta-karun-di-laut-china-deposit-emas-terbesar-asia-ditemukan

. This significant discovery has increased Laizhou's total proven gold reserves to over 3,900 tons (approximately 137.57 million ounces), representing about 26% of China's total gold reserves ¹

Source 1

https://finance.detik.com/berita-ekonomi-bisnis/d-8269986/china-diam-diam-lagi-menumpuk-emas

. The find establishes Laizhou as the largest gold reserve and production area in China, further solidifying the region's importance in the country's precious metals sector.

Part of China's Intensified Gold Exploration Efforts

The discovery is part of China's broader efforts to intensify national exploration for precious metals. This recent find follows another significant discovery last month where China announced its first large-scale, low-grade gold deposit in Liaoning Province, with confirmed reserves of 1,444.49 tons ²

. This deposit is reported to be the largest single gold deposit discovered in China since 1949, according to the Ministry of Natural Resources.

Strategic Implications for China's Gold Market

While the exact size of the newly discovered underwater gold deposit has not been disclosed, industry experts believe it could significantly impact China's gold market. The discovery suggests that China's gold reserves might be larger than previously estimated, potentially influencing future mining activities and gold production strategies.