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Gold deposits discovered in northwest China
(Xinhua)
Updated: 2004-10-02 10:05
A division of the Chinese People's Armed Police Force engaged in gold
exploration and production discovered large gold ore deposits in Wenxian County,
northwest China's Gansu Province.
Sources of the division said that 66 gold ore veins were found inside the
Yangshan mining zone covering an area of 288.8 square kilometers. The gold
reserves are estimated at 156 tons.
Gold is traded at a price of some 413.4 US dollars per troy ounce at the
London Gold Trading Market, which means the hidden economic value in the area
would exceed 15 billion yuan (US$1.81 billion), said industry
experts.
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