The economic value of the country’s largest single deposit of the precious metal is estimated at almost $28.5 billion.
Chinese state-run gold producer Shandong Gold Mining announced on Friday that its controlling shareholder had discovered an additional 200 tons of gold resources at the Xiling gold mine in Laizhou in Shandong Province in eastern China.
The discovery brings the total cumulative gold reserve of the mine to 580 tons, making it the country’s largest deposit of the precious metal, with an estimated economic value of 200 billion yuan ($28.5 billion).
The Xiling gold mine is nearly 2,000 meters long and just over 2,000 meters wide, with a maximum thickness of 62.35 meters. The gold ore density averages 4.26 grams of gold per tonne. The deposit is estimated to be able to produce 10,000 tons of gold ore per day for the next 30 years.
“We drilled more than 180 holes over 300,000 meters. One of the drill holes is 4,006.17 meters deep, a precedent for small-diameter drilling in our country,” Feng Tao, deputy general manager of Shandong Gold Group, which owns the mine, said about the discovery.
Protect your home and car against devastating EMP, solar flare and lightning attacks with the best shield available today…
In March, China reported the discovery of a huge gold deposit with a reserve of nearly 50 tons, the value of which was estimated at around $3 billion. The discovery was made in the rural city of Rushan, also located in Shandong Province.
The northeastern region of Shandong is home to China’s largest gold mine reserves, with the highest gold output and deposits nationwide, according to the China Gold Association.
Health Ranger Store: Buy US-made, non-GMO food and products to heal your body, your soul and the world…
In the first quarter of the current year, China reportedly produced 84.97 tons of raw gold, marking an increase of 1.88% from the previous year. Meanwhile, the country’s gold consumption reached just over 291 tons, a year-on-year surge of 12%.
Planet Earth has plentiful and abundant resources, Corporations of today have the capability to produce enough for four times the current population. But they are deliberately limited in their capacity because of the manufactured narrative of finite resources; and a desire to control those resources, therefore; the population at large. [RT]
FUNDRAISING: KEEP STRANGESOUNDS ONLINE!… THANK YOU FOR YOUR HELP! You can give through Credit cards, Debit cards and Paypal by using the form below. (You will get a gemstone gift for every donation above 50$! Send me your snail mail per e-mail)
You should also join my newsletter…YOU WILL LOVE IT…
I recommend following Qfiles for videos, podcasts and a wide compilation of alternative news…
The following links feature products I recommend you to add to your preparedness plan to help and protect you and your family during an emergency:
- Protect your home and car with the best lightning and EMP protection available…
- Use this filter to drink clean water at home!
If they are so rich in ore, then why do they buy so much bullion? I call bullshit. I think they exaggerated so they can manipulate the price down, then go in and buy more gold. They are liars and cheats. Everything they do is crap. They steal ideas, knock off products, and make junk that breaks down rapidly. I wish Kissingerm and Nixon never opened the door for these demonskins.