speaking of gold, China unearths mega gold deposit worth 78 B euros/ $83 B

[butters]

A significant gold deposit, valued at approximately 78 billion euros (600 billion yuan), has been discovered in Pingjiang County, located in Hunan province, China. With an estimated 1,000 tons of gold, this find has the potential to reshape both China’s gold industry and the global mining sector. The discovery, made within the Wangu gold field, is expected to drive economic growth and attract significant attention from mining companies worldwide.

Xi's laughing his socks off right now

Geologist Chen Rulin emphasized the exceptional nature of this discovery, stating that many of the rock cores drilled exhibited visible gold, an unusual occurrence in geological exploration. Some samples contained up to 138 grams of gold per metric ton of ore, highlighting the extraordinary richness of this deposit. Such high-grade mineralization significantly enhances the economic feasibility of extraction.

The Wangu gold field is now considered one of the largest gold deposits globally, surpassing notable reserves such as South Africa’s South Deep mine, which holds approximately 900 metric tons of gold. The discovery places China among the top global gold producers, reinforcing its influence in the global precious metals market.

will trump demand that China now belongs to the USA? Will he EO it into the 51st state given that it has more gold than Canada? Will he claim that he's doing the Chinese a favour by dropping the tariffs he imposed on them because once they're a part of the USA they'll not need to have tariffs? Or will he 'do the deal' with Xi saying he won't take over China if it assures at least half of the new gold will be mined by American (gov't owned) corporations?

https://www.msn.com/en-us/money/oth...1&cvid=2c35bac0666647a8a76836cfcbc539f7&ei=83

 

[Rightguide]

Xi's laughing his socks off right now





will trump demand that China now belongs to the USA? Will he EO it into the 51st state given that it has more gold than Canada? Will he claim that he's doing the Chinese a favour by dropping the tariffs he imposed on them because once they're a part of the USA they'll not need to have tariffs? Or will he 'do the deal' with Xi saying he won't take over China if it assures at least half of the new gold will be mined by American (gov't owned) corporations?

https://www.msn.com/en-us/money/oth...1&cvid=2c35bac0666647a8a76836cfcbc539f7&ei=83

We have huge gold deposits here in the US if we ant to go after them.

 

[Politruk]

We have huge gold deposits here in the US if we ant to go after them.

Why has it not been mined, then? Only conceivable reason is that it cannot be mined profitably.

 

[Rightguide]

Why has it not been mined, then? Only conceivable reason is that it cannot be mined profitably.

left wing environmentalists.

 

[Politruk]

left wing environmentalists.

They don't have nearly enough power to stop mining if it's that profitable.

 

[HisArpy]

I have no issues if China wants to scour and strip mine their farm fields down to solid rock.

F' em.

 

[Rightguide]

They don't have nearly enough power to stop mining if it's that profitable.

There are state bans on mining all over the west.

 

[butters]

Why has it not been mined, then? Only conceivable reason is that it cannot be mined profitably.

China is utilising all the new technology to locate and mine... deposits are ranging from 2,000 to over 3,000 meters

It also has extensive environmental impact concerns, regarding sustainability, soil degradation, carbon emissions and protecting water resources. Of course, the trump administration won't be bothered about any of that stuff, and will roll back any and all environmental protections it wants to make itself and its oligarchs richer. To date, I've yet to hear of any massive deposits, with such a high gold to ore ration in the states or any company currently equipped to mine that deep. Doesn't mean they don't exist, just that I'm unaware of them which goes for most people, no doubt.

 

[HisArpy]

China is utilising all the new technology to locate and mine... deposits are ranging from 2,000 to over 3,000 meters

It also has extensive environmental impact concerns, regarding sustainability, soil degradation, carbon emissions and protecting water resources. Of course, the trump administration won't be bothered about any of that stuff, and will roll back any and all environmental protections it wants to make itself and its oligarchs richer. To date, I've yet to hear of any massive deposits, with such a high gold to ore ration in the states or any company currently equipped to mine that deep. Doesn't mean they don't exist, just that I'm unaware of them which goes for most people, no doubt.

WTF? Why would Trump care if CHINA turns their entire arable farmland into a gigantic hole in the ground?

Are you sure you understand geography?

 

[Politruk]

There are state bans on mining all over the west.

Not believable -- all the Western states are mining states.

 

[Rightguide]

Not believable -- all the Western states are mining states.

You don't know much. Like a lot of energy and mineral prospects, they are full of inactive mines and viable prospects smothered in a ton of regulation and permitting problems.

 

[HisArpy]

You don't know much. Like a lot of energy and mineral prospects, they are full of inactive mines and viable prospects smothered in a ton of regulation and permitting problems.

I'll bet he doesn't even know you can't just pan for gold in California rivers/streams any old time you want to, claimed or still open.

 

[TastySuckToy]

As always, gold isn't actually scarce, it's simply a matter of the economic feasibility of mining/obtaining it.

For one example, there are asteroids (relatively) nearby that have deposits 'worth' hundreds of trillions of dollars.

The thing is, suppose we managed to bring all that gold back to Earth, or big portions of it. You didn't magically inject an enormous amount of capital into the economy. Quite the opposite in fact: the price of gold collapses, as it becomes vastly more common in supply and outstripping demand.

That's why no one is hoarding or trading dirt, and we have the expression of 'dirt cheap'. Once something becomes widely and easily available, its value collapses.

Gold is no different, and if we get to the point of being able and wanting to mine enormous gold reserves from anywhere, its value and price will adjust downwards, very rapidly and very drastically.

 

[Rightguide]

I'll bet he doesn't even know you can't just pan for gold in California rivers/streams any old time you want to, claimed or still open.

No amount of human need justifies disturbing those little fish nobody can find.

 

[HisArpy]

No amount of human need justifies disturbing those little fish nobody can find.

Lit(tle) fishies need lurving too.

 

[butters]

Pingjian County, in Hunan, is not agriculturally viable and prone to frequent flooding; it has a resident population of around 1 million people and tourism plays a big part in the county's poor economy to date with over 15 million domestic visitors per annum:

3. Flood risks. Following the natural terrain and landform, the middle and upper reaches of the Miluo River are located in high mountains and deep hills with a developed river system. Most residents and towns in Pingjiang County are situated in low-lying areas along the banks of the Miluo River and lack sufficient flood protection measures. The Miluo River Basin experiences high rainfall intensity with uneven spatial, temporal, and interannual distributions; floodwater from the mountainous areas converges on the low-lying urban areas, resulting in frequent and severe flood damage. In addition, the lower reaches of the Miluo River Basin are affected by the water level of Dongting Lake. When the lake water reaches a certain level, backflow occurs in the spillway and aggravates the flood damage. During 2013–2018, flooding impacted 86 townships in Pingjiang County, damaging 344 km of riverbanks and around 542,250 mu of cropping area,2 and resulting in an estimated $284 million (CNY1,986 million) in direct economic losses.

34. Inadequate wastewater and waste management systems. The ecological environment of the Miluo River in Pingjiang County faces many challenges. About half of all rural villages have no household sewage or wastewater treatment facilities. Farming practices are unsustainable and farm waste management systems inadequate. These, coupled with inadequate management of solid waste, including plastic waste, have significant negative impacts on the rural living environment, increase public health risks, and contribute to the declining water quality in the Miluo River. In addition, Pingjiang County is critically impacted by seasonal flooding and landslides,

so arable land isn't in danger, though the ecosystem may be.

https://www.adb.org/sites/default/files/linked-documents/53052-001-ssa.pdf