Koos Jansen
BullionStar Blogs
Koos Jansen
Posted on 4 Aug 2014 by

Massive Gold Deposit Found In Xinjiang Province China

The deposit potentially contains more than 127 tonnes

In China’s Xinjiang Uygur Autonomous Region, the largest province in China, there has been a massive gold deposit dicovered, according to Xinhua News. At least 127 tonnes has been found in resource rich Xinjiang, said the regional bureau of geology and mineral exploration and development. The deposit is located in Ulugqat near Kyrgyzstan in west Xinjiang. Cui Hongbin, head of exploration team, expects total reserves may even exceed 200 tonnes.

Last year in Xinjiang two gold deposits were discovered with proven reserves of more than 50 tonnes each in Xinyuan and Hejing. In the past two decades geological workers found more than 20 belts of gold ore in the 20-square-km Sawayaerdun deposit.

Several major mining companies in China have expressed interest in co-development of the recent discovery. A survey was conducted by Xinjiang Tongyuan Mining Limited, a venture between Xinjiang Fuwei Mining and the Xinjiang geology and minerals bureau, according to the National Business Daily.

Since 2007 China has the largest gold mining output globally. In the first half of this year China has mined 211.07 tonnes, it’s expected to reach 451 tonnes in total this year.


Koos Jansen
E-mail Koos Jansen on:

Copyright Information: BullionStar permits you to copy and publicize blog posts or quotes and charts from blog posts provided that a link to the blog post's URL or to https://www.bullionstar.com is included in your introduction of the blog post together with the name BullionStar. The link must be target="_blank" without rel="nofollow". All other rights are reserved. BullionStar reserves the right to withdraw the permission to copy content for any or all websites at any time.