In a remarkable feat for the mining industry, a team of geologists in central China has uncovered what is being hailed as the world’s largest gold deposit, valued at a staggering US$83 billion (approximately 600 billion yuan).

Valued at approximately 600 billion yuan or US$83 billion, the discovery could be considered the largest and most lucrative reservoir of gold ever uncovered, surpassing the 900 metric tons estimated to lie within the mother of all gold reserves, South Deep mine in South Africa.

Then again, China has the know-how and experience to make things happen. The East Asian giant is already the world’s biggest producer of gold, just behind Russia and Australia. In fact, most of the world’s excavated gold – enough to make a solid 23 by 23-meter (75 by 75-foot) cube – has been unearthed from those three nations.

China says it has discovered the world’s largest known deposit of gold, estimated to be worth over $80bn (£63bn). The deposit at the Wangu gold field in central China could yield more than 1,000 tonnes of gold, the Geological Bureau of Hunan was quoted as saying by Chinese state media.

More than 40 'seams' of gold deposits have been discovered in Hunan Province, in the centre of China, with the precious metal reserve estimated to be more than 1,000 tonnes

China has discovered the world's largest gold deposit, estimated at ¥600 billion, containing 300 tons at depths of up to two kilometers. Experts suggest potential reserves exceed 1,000 tons. The find,

Geologists in China have been stunned after finding a "supergiant" deposit of gold worth more than £65 billion. According to Chinese state media, the astonishing precious metal reserve is more than 1,