The Dadongguo deposit reserves are estimated to be around 2.586 billion tons of ore, equivalent to 1,444.49 tons of gold, with an average concentration of 0.56 grams per ton, according to China’s Xinhua News. This discovery was completed in just 15 months, coinciding with gold prices reaching record levels. The project was carried out by the state-owned Liaoning Geological and Mining Group, involving about 1,000 technicians and workers, which enabled the exploration to be completed in an unusually short period for deposits of this size.
This discovery comes at a time when global demand for gold is significantly increasing, with prices rising more than 50% this year due to a weak dollar and geopolitical tensions, along with strong purchases by central banks, especially in emerging economies.
Domestic consumption reached 985.31 tons, with demand for bars and coins rising by more than 24%, reflecting the growing interest of the middle class in protecting their wealth amid global economic uncertainty, making gold a popular safe haven in China.
