A gold mine with a potential value of 17 billion yuan (approximately 3.0894 trillion KRW) has been discovered in the Inner Mongolia Autonomous Region of China.
On the 13th, local media including China Daily Economic News reported that gold mine explorers in Urad Middle Banner, Inner Mongolia, discovered a gold mine with an estimated resource amount of 38 tons during a geological survey. According to the report, this gold mine is located near Ganchimaodou.
This year, 57 drilling operations were conducted in the vicinity, covering an area of 27,141 square meters. The exploration area is 2.52 square kilometers. The media stated, "This gold mine exploration will provide a geological basis and resources for the rational development and utilization of mineral resources and for changes in the mining scope."
Urad Middle Banner is a representative mineral resource deposit area. It is known to contain a total of 68 types of minerals including coal, petroleum, iron, lead, zinc, silicon, graphite, granite, gold, and silver. Verified gold reserves so far amount to 143 tons, with estimated reserves projected at 300 tons. Annual gold production is 4.8 tons. Graphite is also known to have reserves exceeding 100 million tons.
In May last year, a gold mine with reserves of 580 tons was discovered during an exploration project in Laizhou City, Shandong Province, China. The gold mine discovered on this day is the largest single deposit found in China and is considered one of the largest in the world, according to local media. In Shandong Province, a 550-ton gold mine was discovered in 2017, and a 470-ton underwater gold mine was found in 2015.
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