China’s Ministry of Natural Resources confirmed the discovery of the Dadonggou deposit on Friday. This is the largest single gold find reported in the country since the founding of the People’s Republic in 1949. Officials say the site contains an estimated 2.586 million tonnes of ore with an average grade of 0.56 grams per tonne, amounting to around 1,444 tonnes of gold.
At current prices, that volume of gold is worth more than €166bn. Gold has reached record levels this year, trading at more than €115,000 per kilogram.
