China has discovered its largest gold deposit since 1949 in Liaoning Province, containing an estimated 1,444 tons of gold. The Ministry of Natural Resources confirmed that the Dadonggou mine, identified after just 15 months of exploration, holds around 2.586 million tons of ore with an average gold content of 0.56 grams per ton. The total estimated value of the deposit exceeds €166 billion, given current record-high gold prices of over €115,000 per kilogram. The state-run Liaoning Geological and Mining Group led the project, employing about 1,000 technicians and workers. Although the site’s exact location remains undisclosed for strategic reasons, officials have completed a preliminary economic feasibility assessment. The discovery comes amid surging global gold demand, driven by a weak U.S. dollar, geopolitical instability, and central banks’ increasing gold purchases. China has intensified mineral exploration in recent years, with multiple major finds in 2024, reinforcing its position as a leading gold producer and consumer.