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China is thrilled with new mine that will bolster gold reserves
Shandong Finds Huge High-Quality Gold Mine; Deposit Will Yield Critical Resources
From Global Times, Beijing
Sunday, March 19, 2023
China has discovered a super-large gold deposit, the Xilaokou gold mine in Rushan, East China's Shandong Province, with an estimated reserve of 50 tons, China Media Group reported on Saturday.
After eight years of prospecting, the Xilaokou gold mine has become the largest known gold deposit in the region and the largest discovered in 2023 so far, according to the Shandong Provincial Bureau of Geology & Mineral Resources.
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The deposit contains high-quality gold ore, which can be easily mined and refined, according to the local resources department.
The deposit will help China to expand its gold reserves and support the nation's self-sufficiency in critical resources, the report said.
China has been enlarging its gold reserves and output amid regional geopolitical risks and the global economic downtrend. ...
... For the remainder of the report:
https://www.globaltimes.cn/page/202303/1287526.shtml
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