Massive undersea gold deposit discovered in East China

(ECNS) -- A huge undersea gold deposit, the largest in Asia, has been discovered in Yantai, East China's Shandong Province, recently, according to the local municipality.

The new deposit is located north of Sanshan Island in Laizhou City, with identified cumulative gold resource reserves exceeding 3,900 metric tons. This accounts for about 26% of the national total, ranking first in terms of resource reserves and production in China.

In November 2023, the Shandong Provincial Bureau of Geology and Mineral Resources identified one quarter of the country's gold reserves.