Geologists in China have said they’ve found gold reserves in a northwestern province that could be worth $32 billion to the country’s economy. The discovery was made in China’s Xinjiang Uygur Autonomous Region, the country’s state-run Xinhua News Agency reported earlier this week The gold deposit in Xinyuan County in the Ili Valley is estimated to contain at least 53 tons, Zeng Xiaogang, head of the region’s geology and mineral resources bureau, said. The gold-bearing region reportedly stretches for almost 2 miles at depths of 200-1,000 feet. It is also estimated to hold 31,000 tons of copper, Zeng said. A mining group has spent 5 years and $24 million to find the reserves, which it hopes to begin mining by the end of 2015, he said. It is the second large gold reserve discovered in the Ili Valley; one containing 50 tons was found in 1988, Zeng said. According to the bureau, the mine is the largest such resource found in the area of Xinjiang’s western Tianshan Mountains. The zone is within the Narat-Hongliu River metallogenic belt, together with gold mines in Uzbekistan, Kyrgyzstan and Kazakhstan, indicating further ores are likely to be found in the belt.
GMT 14:02 2018 Sunday ,02 December
RDIF says $2 billion will be invested in Russian economy from joint Russian-Saudi fundGMT 12:03 2018 Friday ,30 November
Canada on track to sign new free trade deal with US and MexicoGMT 07:56 2018 Wednesday ,21 November
Merkel policies in focus in final debate on draft German budgetGMT 14:11 2018 Thursday ,08 November
Greek minister, Russian ambassador discuss possible investment projectsGMT 13:42 2018 Wednesday ,07 November
PM says Russian-Chinese trade turnover may reach $200 blnGMT 11:15 2018 Wednesday ,07 November
Top U.S. diplomat visits Pakistan to discuss economic cooperationGMT 13:53 2018 Thursday ,01 November
Alrosa to sell 127 large gem-quality rough diamonds at an auction in IsraelGMT 10:59 2018 Tuesday ,30 October
Trade turnover between Russia and Japan grows by over 17% in 2018Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor