One Reason the World is envious of China

① The Current Situation in China, the Focus of the World

A large-scale gold mine, estimated to contain 38 tons of gold, has been discovered in China. On the 14th, Tugur Ge Gold Mine, a gold mining company in Ulaanbaatar, Bayannaoer, Inner Mongolia, announced the discovery of a new gold mine in Ganchimao, Ulaanbaatar. It is known that this gold mine contains 38 tons of gold, valued at approximately USD 3.3 billion.

Tugur Ge Gold Mine said, “We have conducted extensive exploration in the Bayannaoer area for the past few years and drilled about 27,000 meters in 57 places this year alone, exploring an area of 2.52 square kilometers, resulting in valuable outcomes.” Ulaanbaatar is known as a significant repository of underground resources. It is known to contain a total of 68 types of minerals, such as coal, oil, iron, granite, gold, silver, and copper, with its potential economic value estimated at about US$61.8 billion. In particular, the confirmed gold deposits alone amount to 143 tons, and it is estimated that a total of 300 tons are buried, with an annual production of 4.8 tons, making it one of the top 10 gold-producing cities in China.

Currently, not only gold mines but also uranium mines and super-large oil fields are being discovered one after another. Foreign media are reporting on the news of this unprecedented good fortune. The value is expected to rise even higher as the gold price rises next year.

② The Successive Discovery of Super-large Gold Mines

This is not the first time a gold mine has been discovered in China. In May, a gold mine with a deposit of 580 tons was discovered during an exploration project in Laiwu City, Shandong Province. Chinese mining technology could maintain this scale for more than 30 years. The length of the gold mine reached up to 2057 meters, and the thickness of the sedimentary layer was 62.35 meters.

The Shandong Department of Natural Resources announced it is worth over US$32.3 billion. The confirmed deposits have passed the evaluation of experts organized by the authorities. The gold mine discovered in Shandong is the largest single discovery in China and is also among the top in the world.

In 2017, a gold mine with a deposit of 550 tons was also discovered in Shandong Province.

In 2021, many super-large gold mines were discovered in Henan Province, which ranks second in domestic gold production. After 10 years of survey in the Wei Shanqing area of Zhuozhang in Tongbai County, Nanyang City, 16 gold mines were discovered. The authorities estimated the preliminary deposit to be 31.55 tons, but they expect to secure more than 50 tons as additional work progresses.

Gold, silver, lead, zinc, and natural alkali were discovered in the gold mine, making it a jackpot.
In 2016, a super-large gold mine of 105 tons was discovered in one mine in Tongbai Mountain, Tongbai County. In 2015, an underwater gold mine of 470 tons was discovered, attracting envy worldwide.

③ From Uranium Mines to… Unprecedented Good Fortune

China’s good fortune is happening one after another. On October 28th, a uranium mine with a maximum of 100,000 tons was discovered. The head of the China Atomic Energy Industry Geological Bureau announced the news at the 1st International Natural Uranium Industry Development Forum held in Beijing.

He said, “We have discovered a uranium mine with a deposit scale of 1 to 100,000 tons after years of exploration,” and added, “The deposit of uranium mines discovered in the past 10 years is one-third of the total deposit. As we have a stable supply network of natural uranium, we can expect stable nuclear industry development.”

He also revealed that they had built a stable uranium supply system early through domestic and overseas uranium development, international trade, and securing strategic reserves. The discovery of the large-scale gold mine followed the discovery of uranium.

On the 2nd, a large oil field estimated to contain more than 100 million tons was discovered in Gansu Province, causing astonishment. Changqing Oilfield, a subsidiary of China National Petroleum Corporation (CNPC), discovered the oil field in the Hongde area of Qingyang City, Gansu Province, after more than two years of exploration since June 2021.

Changqing Oilfield announced, “We have confirmed that oil is deposited in 23 oil wells in the Hongde area, and three of them already exceed 100 tons in daily production.” Moreover, it introduced, “We are accelerating the development of the Hongde area oil field, and the daily crude oil production has reached 504 tons. We have an annual crude oil production capacity of 500,000 tons.”

Despite being a treasure trove of oil and gas resources, the Hongde area has faced difficulties in exploration for a long time due to challenging geological conditions. With the discovery of a new oil field, the Hongde area has entered a new phase in oil storage and production capabilities.

By. Sung Min Seo