Earth's largest gold deposit could make THIS country richer by an eye-popping $83 billion
The world's largest gold deposit has reportedly been found in China. The Wangu gold field in the Hunan province likely has 1,100 tons of gold worth $83 billion.
1,100 tons of gold discovered in China
The largest gold deposit in the world sits in China. According to experts, it could be the largest deposit of not just gold, but any precious metal anywhere on Earth. This supergiant deposit is located under the Wangu gold field in the Hunan province, and according to estimates, it is as huge as 1,100 tons.
$83 billion worth of gold discovered deep down in China
Earlier estimates of this gold field showed over 40 gold veins of roughly 330 tons at 6,600 feet deep under Pingjiang County’s Wangu gold field. However, 3D modelling analysis showed 1,100 tons of gold sitting at a depth of 9,800 feet. As per the current rate, this could amount to a whopping $83 billion.
Largest gold mines in the world
According to Mining Technology, this discovery would make this site in China the largest gold mine in the world. South Africa’s South Deep gold mine will become a close second with 1,025 tons of gold. Indonesia, Russia, New Guinea, and Chile have the other largest gold mines in the world.
138 grams of gold per metric ton of ore
The other fascinating thing about this find is that the Wangu gold field features 138 grams of gold per metric ton of ore. This is a rare and valuable rate in gold mining. Chen Rulin, an ore-prospecting expert at China’s Hunan Province’s Geological Bureau, told the Chinese state media that many of the “drilled rock cores showed visible gold.”
China is top importer of gold globally
China is extremely dependent on gold and uses it more than any other country in the world. It uses about three times more gold than it mines annually. This has led it to purchase a lot of gold from other countries, making it the top importer of the metal globally.
World's largest gold producer
China is also the world's largest gold producer, and produces approximately 380.2 tonnes. It contributes over 11% of the world's total gold output. Shandong, Henan, and Jiangxi are its major gold-producing regions.
Gold rate
On October 8, 2025, gold surged past the $4,000 an ounce level for the first time amid a record-breaking rally. Spot gold was up 1.7% at $4,050.24 per ounce by 1345 PM ET (11:15 pm IST). US gold futures for December delivery also settled 1.7% higher at $4,070.5.
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