A new discovery in China has brought forth the largest undersea gold deposit in the country (which is also the greatest gold producer in the world) at 2,000 metres deep off the north coast of Laizhou city, in the vicinity of Sanshan Island.
The newly-discovered great gold mine was spotted by researchers from the Shandong Provincial No. 3 Institute of Geological and Mineral Survey. The value of the deposit, estimated to contain 1,500 tonnes of gold to the least, is claimed to be over $16.4 billion.
The research works that were focused in that part of the sea have been ongoing since 3 years now. 120 kilometres have been drilled, with more than 1,000 drillers and geologists involved; that was how the belt lying at the bottom of the ocean was uncovered. Still, the gold mine is as yet inaccessible to excavators.
Of the main obstacles that stand in their way is the lack of technology to allow them to go beyond 1,000 metres under the surface. China being the world leading gold producer does conduct drilling activities. But, these are restricted to within 800 metres underground; larger figures remain a challenge. However, the discovery does open the avenues for new drilling technology, as pointed out by the project manager, Zhang Junjin.