The state-owned gold company Shandong Gold Mining in China recently announced that they had found an extra 200 tonnes of gold in the Xiling mine in the province of Shandong, which is situated in eastern China, according to a report from RT.The mine now has 580 tonnes of gold in its overall reserves, making it the biggest precious metal mine in the nation. The Xiling mine is thought to be of about 200 billion yuan ($28.5 billion) in terms of economic value.
The Xiling gold mine has a maximum thickness of 62.35 metres and measures 1,996 metres in length by 2,057 metres in breadth. According to reports, the mine’s gold ore has an average density of 4.26 grammes per tonne.According to projections, the Tuy Lung mine has the capacity to produce a significant amount of gold ore. Its production rate is anticipated to remain constant for the next 30 years, reaching a capacity of 10,000 tonnes per day.
Over 300,000 metres, we have drilled more than 180 holes. A precedent for small-diameter drilling in our nation is one of the boreholes, which is 4,006.17 metres deep, according to Feng T.o, deputy general manager of Shndong Gold Mining, the company that owns the gold mine.In March, China also revealed the discovery of a sizable gold mine with just 50 tonnes of deposits, estimated to be worth $3 billion.
The finding was made at Nhushn, which is also in the province of Shandong.The largest gold mining deposits in China are located in the northwestern area of Shandong, according to the China Gold Association. The nation produced 84.97 tonnes of real gold in the first quarter of 2023, an increase of 1.88% year over year.Meanwhile, the nation used more than 291 tonnes of gold, an increase of 12% over the same time last year.