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.