Asia's Largest Gold Mine Discovered in China

A historic discovery was announced by the Chinese government on Monday as they said they have found the biggest underwater gold mine, a local Chinese newspaper reported.

China said that it has discovered the country's first underwater gold field off the coast of Shandong province.

Chinese authorities described the discovery as the largest of its kind in Asia, according to the South China Morning Post, though Chinese media did not disclose the actual size of the deposit.

This discovery raised the total proven gold reserves in Laizhou to over 3,900 tons, equivalent to approximately 137.57 million ounces, representing about 26 percent of China's total gold reserves.

According to the Yantai city government, this reinforces Laizhou's position as the leading region in the country in terms of both gold reserves and production.

It is worth mentioning that China is currently the world's largest producer of raw gold, with production reaching approximately 377 tons in 2024 (approximately 13.3 million ounces), according to data from the China Gold Association.