China Confirms Discovery of 'Super-Giant' Wangu Gold Deposit with Reserves Exceeding 1,000 Tons

The Chinese government has officially verified the discovery of the massive Wangu gold field in Hunan province, a development set to significantly bolster the nation's strategic mineral stockpiles. Formal confirmation of this substantial find was provided by officials from the Hunan Provincial Bureau of Geology toward the end of 2025, marking a major milestone in the country's geological exploration efforts.

Situated within Pingjiang County, the deposit is projected to hold more than 1,000 metric tons of gold, representing a market value estimated at approximately $83 billion. Extensive geological exploration, which involved over 65 kilometers of drilling, identified ore bodies at depths of roughly 2,000 meters, with 300 tons of reserves already confirmed across 40 distinct veins. This discovery has the potential to eclipse South Africa’s renowned South Deep mine, which reported reserves of about 32.8 million ounces of gold as of 2018.

A defining characteristic of the site is the extraordinary quality of the ore, with gold concentrations reaching as high as 138 grams per ton. This figure dramatically exceeds the international benchmark for high-grade deposits, which typically sits at or below 10 grams per ton. Visible gold was recorded in several drill cores, substantiating the high metal density, while the research utilized sophisticated techniques such as three-dimensional geological modeling to map the subterranean structures.

Project management is being conducted under strict state oversight, led by the Hunan Mineral Resources Group. This state-owned entity was established in 2024 specifically to manage the province's strategic mineral assets and ensure efficient extraction. Due to the superior grade of the ore, experts anticipate that processing costs will be considerably lower than those associated with many other global mining operations, providing a significant economic advantage.

Despite the excitement, international market analysts have expressed a degree of caution regarding the 1,000-ton estimate, suggesting that the currently confirmed 300 tons is a more grounded figure until further classification as proven reserves occurs. Experts also point out that Chinese mineral reporting standards may differ from international benchmarks like Australia’s JORC or Canada’s NI 43-101, highlighting a need for independent verification to align with global investment expectations.

This discovery comes as China continues to expand its domestic gold output, which reached 377.24 tons in 2024, marking a 0.56% increase over 2023 figures. By the end of 2024, the Chinese central bank's total reserves climbed to 2,279.57 tons, maintaining its position as the world's sixth-largest holder. However, questions regarding the timeline for commercial extraction and the availability of public environmental impact assessments for the Wangu site remain unanswered as the project moves into its next phase.