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China Discovers Huge Undersea Gold Deposit Worth $16.4 Billion

China Discovers Huge Undersea Gold Deposit Worth $16.4 Billion

By AMTV Media

The first undersea gold reserves and the largest gold deposit found in China was discovered after three years of investigations near Sanshan Island in east China’s Shandong province, 1.2 miles below sea level, the South China Morning Post newspaper reported Tuesday.

The new-found deposit is currently valued at over $16.4 billion and is estimated to hold at least 1,600 tons of gold, according to the newspaper.

The gold mine is located near the city of Laizhou, which is home to the largest gold deposits in the country.

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