BEIJING (Scrap Monster): Largest Gold Mine so far has been discovered by the geologist. This extraordinary discovery is reported from the northwest Xinjiang region of China.
The gold mine is located in Ulugqat, which is making border with Kyrgyzstan. Geologists said that the mine has proven gold reserves of about 127 tonnes worth above 40 billion Yuan i.e. HK$50.16 billion.
But, an official from the Xinjiang Geology and Mineral Resources survey bureau, Cui Hongbin said that it could deliver more than 200 tonnes of gold. This astonishing discovery was after 20 years of geological survey there.
Cui told the reporters that geologists were on survey in a 20sq.km area for the last 20 years. The mine is about 3,100 to 4300 meters above the sea level. The survey was carried out by Xinjiang Tongyuan Mining Limited, which is joint venture between Hong Kong Fuwei Mining and geology and minerals bureau of Xinjiang.
The company told the reporters that it had not yet given approval for any mining companies for exploiting the largest gold mine. Hong Kong Fuwei Mining has a controlling stake in Xinjiang Tongyuan Mining Limited.
Chen Yihui, the head of Hong Kong Fuwei is the owner of the largest gold mine. Xinjiang is the home to Chinese Muslim Uyghur ethnic group and it has rich sources of oil, gas and minerals.
