China discovers Asia’s largest undersea gold deposit off Shandong coast: Reports
China has reportedly made another major gold discovery, this time beneath the sea off the coast of Laizhou in Yantai city, located in eastern Shandong province. As per reports, the find is being described as the largest undersea gold discovery in Asia so far.
According to information shared by the Yantai city government during a recent conference reviewing its current five-year plan, the latest discovery has pushed Laizhou’s total proven gold reserves to over 3,900 tonnes (about 137.57 million ounces). This accounts for nearly 26% of China’s total gold reserves, reportedly placing Laizhou at the top nationally in both gold reserves and production.
However, authorities have not yet disclosed the exact size of the newly identified undersea deposit. The South China Morning Post reported that official details remain limited at this stage.
The discovery is said to be part of a broader pattern of recent gold finds across China, reportedly indicating that the country’s actual gold reserves could be significantly higher than earlier estimates. If confirmed, the development may further strengthen China’s position in global gold production and resource security.
Source: https://english.gujaratsamachar.com