China discovers largest single gold deposit in more than 70 years

ISTANBUL

China on Friday announced that it has discovered its largest single gold deposit since 1949.

The Dadonggou Gold Mine in the northeastern province of Liaoning contains 1,444.49 tons of proven gold reserves, according to the Ministry of Natural Resources.

The state-run Global Times reported that the mine has already passed an economic feasibility assessment, clearing the way for development.

The deposit is classified as a super-large, open-pit mine. Officials said the area above the 720-meter (2,362-foot) elevation holds an estimated 2.586 billion tons of ore with an average gold content of 0.56 grams (0.02 ounces) per ton.

The mine was identified following an unusually fast, 15-month exploration process, which it said could become a model for “short-cycle, high-quality” mineral surveys in the future, according to the report.