China has once again made a significant gold discovery, this time uncovering an additional 168 tons of gold reserves. According to the Ministry of Natural Resources, the reserves were located in Gansu province (northwest China), Inner Mongolia (northern China), and Heilongjiang province (northeastern China). This remarkable find adds to China’s growing prominence in the global gold industry.
This discovery is the second major gold reserve China has reported in recent times. In November of last year, the country gained global attention with the revelation of the world’s largest gold deposit in Hunan province. Situated near Pingjiang County, this high-grade deposit is estimated at 1,000 metric tons, with an impressive valuation exceeding USD 83 billion, which is roughly Rs 7 lakh crore. This discovery eclipsed South Africa’s South Deep mine, which previously held the record as the largest gold reserve, containing 900 metric tons of gold.
According to Forbes, the United States, Germany, and Italy are the top three countries with the largest gold reserves. As per the World Gold Council, the United States leads the global rankings with a staggering 8,133 tons of reserves, holding almost as much gold as Germany, Italy, and France combined.
China, while ranking sixth globally with 2,264.32 tonnes of gold reserves, is ahead of India, which has 840.76 tonnes. Despite this, China is the world’s top producer of gold, with an annual output of approximately 375 tonnes, accounting for 10% of global production in 2022. The country’s dominance in gold production is fueled by its extensive mining operations, further solidifying its role in the global gold market.
Gold Discovery in Pakistan Offers Economic Promise
Meanwhile, Pakistan has also reported a significant gold discovery that could potentially transform its struggling economy. The former Mining Minister of Punjab, Ibrahim Hasan Murad, recently announced the discovery of 2.8 million tolas of gold, valued at approximately 800 billion Pakistani rupees. These reserves were found along a 32-kilometer stretch in Attock, Punjab.
In a statement shared on X (formerly Twitter), Murad highlighted the discovery’s importance: “Former Mining Minister of Punjab, Ibrahim Hasan Murad, has unveiled a groundbreaking discovery: 2.8 million tolas of gold, valued at 800 billion PKR, spread across a 32-kilometer stretch in Attock. This revelation, validated by the Geological Survey of Pakistan, highlights the immense potential of Punjab’s natural resources. Massive Gold Deposit: 2.8 million tolas confirmed through extensive research.”
The discovery has been confirmed through rigorous research conducted by the Geological Survey of Pakistan. It underscores the immense potential of Punjab’s natural resources, which could play a critical role in addressing the country’s economic challenges.
Pakistan, which is currently facing a prolonged economic downturn, could benefit significantly from the revenue generated by these newly discovered reserves. With an estimated worth of 800 billion PKR, the gold deposits could provide a much-needed boost to the country’s economy, potentially aiding in stabilizing its financial systems and fostering growth.
As both China and Pakistan make headlines with their gold discoveries, these developments highlight the strategic importance of natural resource management and the potential for such finds to reshape national economies.
