Gold deposit discovered in China
A major gold deposit with known reserves estimated at 380 tons was discovered in Vensan, the Chinese province of Gansu. According to Jenmin Jibao, this is the first deposit in the country with the known reserves in excess of 200 tons of gold.
The Janshan deposit is located in Gansu not far from the administrative borders with the provinces of Shaanhi and Sichuan. Specialists expect it development to become another locomotive force for the regional economic growth and provide an impetus for development of nearby provinces as well.
Development of the deposit is listed as one of the most important projects for 2006-2010. Interim estimates appraise economic value of the deposit at 50 billion yuans ($1 = 7.53 yuans).