Asia’s Biggest Subsea Gold Reserve Found in China

China has reportedly discovered Asia’s largest offshore gold deposit, located beneath the seabed off Laizhou, a coastal district in the eastern province of Shandong. This find is being hailed as the continent’s most significant submarine gold reserve, representing a major boost to the country’s natural resource portfolio.

According to the South China Morning Post, the Laizhou deposit increases the district’s verified gold reserves to over 3,900 tonnes (approximately 137.57 million ounces), accounting for nearly 26% of China’s total gold reserves. The Ministry of Natural Resources has described this as the largest single gold deposit discovered in China since the establishment of the People’s Republic in 1949, highlighting its historical and strategic significance.

Earlier this year, Chinese authorities also reported the discovery of a substantial gold reserve in the Kunlun Mountains, near the western border of the Xinjiang Uyghur Autonomous Region. This deposit is estimated to contain over 1,000 tonnes (35.27 million ounces) of gold, further underscoring China’s growing domestic reserves.

In November 2023, Shandong provincial officials revealed that they had identified roughly one-quarter of the nation’s total gold reserves, including over 3,500 tonnes (123.46 million ounces) on the Jiaodong Peninsula. This region is now recognised as the third-largest gold mining area in the world.

Meanwhile, the China Gold Association announced last month the verification of the country’s first ultra-large, low-grade gold deposit in Liaoning province, amounting to 1,444.49 tonnes (50.95 million ounces). China remains the world’s largest gold producer, with last year’s production reaching 377 tonnes (13.3 million ounces).

Despite leading global production, China still trails countries such as South Africa, Australia, and Russia in terms of proven gold reserves. Analysts suggest that these recent discoveries could significantly enhance China’s strategic resources, potentially boosting both domestic investment and the nation’s influence in global gold markets.

Table: Key Gold Reserves in China (Tonnes and Ounces)

With these discoveries, China is steadily consolidating its position as a leading global player in gold production, reinforcing both its economic security and strategic leverage in natural resources.