China claims to have unearthed the largest gold deposit in the world —worth $83B

China is claiming to have unearthed the largest gold deposit in the world — estimated to be worth more than $80 billion.

More than 1,000 tons of gold reserves and ore veins were allegedly discovered by geologists from the Hunan Provincial Geological Institute some 12 miles beneath the surface in China’s Pingjiang County, according to China state media.

The gold find is believed to be a whopping $83 billion.

The record-breaking discovery was made within the Wangu goldfield, Xinhua reported.

The Hunan Provincial Geological Institute said the find was “significant in helping safeguard the country’s resource security.”

China is the world’s largest producer of gold, accounting for around 10% of global output in 2023, according to the World Gold Council.

Currently, the South Deep gold mine in Gauteng Province, South Africa, is the largest gold reserve in the world, holding around 930 metric tons of gold.

The Hunan Academy of Geology said workers found more than 40 gold ore veins at Wangu.

With Post wires