China discovers undersea gold reserves estimated at $16.4bn
The largest deposit is located two kilometers below sea level in an area with estimated reserves of at least 1,500 tons of gold. It was discovered in the Laizhou city which has the largest gold reserves in China. More than 2,000 tons of gold has been found there recently.
“It’s very difficult to locate and set up the drilling platforms at sea,” said Ding Zhengjiang, the deputy director of the Shandong Provincial No. 3 Institute.
The project’s manager Zhang Junjin added that “drilling holes into underground rocks that are more than 1,000 meters deep is a big challenge while in China gold mine prospecting
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